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(This note is not part of the Order)
This Order provides that the bodies listed in column (1) of the Schedule to this Order are prescribed bodies for the purposes of Part 13 of the Corporation Tax Act 2009. Part 13 of that Act provides tax relief to a company in respect of qualifying expenditure incurred on research and development. Qualifying expenditure includes expenditure on research and development undertaken on the company’s behalf by “qualifying bodies”. Section 1142(1) defines qualifying bodies as including bodies prescribed by order. The effect of this Order is that the bodies listed in the Schedule are qualifying bodies for the purposes of Part 13 of the Corporation Tax Act 2009 so that relief is available in relation to expenditure incurred on or after the date specified in relation to each body.
Article 1 provides for the citation, commencement and effect. Sections 1142(3) and (4) provide that any order made under section 1142 may have effect in relation to accounting periods beginning, or expenditure incurred, before the time the order is made.
Article 2 provides that the bodies listed in the Schedule are prescribed bodies for the purposes of Part 13.
Article 3 provides that The Research and Development (Qualifying Bodies) (Tax) Order 2009 (S.I. 2009/1343) is revoked.
A Tax Information and Impact note has not been prepared for this Instrument as it contains no substantive changes to tax policy.
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