1114Total R&D aidU.K.
This section has no associated Explanatory Notes
For the purposes of section 1113 the total R&D aid, in respect of expenditure by a company (“the claimant”) attributable to a research and development project, is calculated as follows—
where—
A is the total R&D aid,
TC is the tax credits (see section 1115),
R is the actual reduction in tax liability (see section 1116),
P is the potential relief (see section 1117),
CT is the main rate of corporation tax at the time when the total R&D aid is calculated, and
N is the notional relief (see section 1118).