Schedules

Schedule 1 U.K.Relief for research and development

Part 3 U.K.Amendments to Schedule 18 to FA 1998

Power of HMRC to collect overpaid R&D tax relief or expenditure credit U.K.

11 In paragraph 52 (recovery of excessive repayments etc)—

(a) in sub-paragraph (2) omit paragraphs (bza) and (ba);

(b) for sub-paragraph (2A) substitute—

“(2A) The provisions of paragraphs 41 and 45 to 48 relating to discovery assessments apply to an amount paid to a company by way of—

(a) first-year tax credit under Schedule A1 to the Capital Allowances Act;

(b) R&D expenditure credit under Chapter 6A of Part 3 of the Corporation Tax Act 2009;

(c) R&D tax credit under Chapter 2 or 7 of Part 13 of that Act,

but only to the extent that the company was not, or is no longer, entitled to the credit.”