2U.K.For subsection (2) substitute—
“(2)The amount of the R&D tax credit to which the company is entitled for the accounting period is, where the company has a Northern Ireland Chapter 2 surrenderable loss but does not have a mainstream Chapter 2 surrenderable loss, the lesser of—
(a)the amount of the Northern Ireland Chapter 2 surrenderable loss multiplied by the relevant percentage, and
(b)the amount given by section 1058(1A) of CTA 2009.
(2A)Subsection (2)(b) does not apply if section 1058D of CTA 2009 (exceptions to tax credit cap) applies in relation to the company for the accounting period.”