(1)The Treasury may by regulations make provision for the purpose of identifying when expenditure on consumable items is attributable to relevant research and development, including provision modifying the effect of section 1126 or 1126A.
(2)Regulations under this section may include provision about—
(a)the circumstances in which expenditure on consumable items employed directly in relevant research and development is, or is not, to be treated as attributable to that relevant research and development;
(b)the circumstances in which consumable items are, or are not, to be treated as employed directly in relevant research and development.
(3)Regulations under this section may—
(a)make different provision for different purposes;
(b)make incidental, consequential, supplementary or transitional provision or savings.
(4)Regulations under this section may amend—
(a)section 1126;
(b)section 1126A;
(c)any other provision of this Act, if that is appropriate in consequence of provision made under paragraph (a) or (b).
(5)Regulations under this section may make provision that has effect in relation to expenditure incurred before the making of the regulations, provided that it does not increase any person's liability to tax.]
Textual Amendments
F1Ss. 1126A, 1126B inserted (with effect in accordance with s. 28(7) of the amending Act) by Finance Act 2015 (c. 11), s. 28(3)