Section 1039 Overview of PartF1
United Kingdom
This Part provides relief for companies that invest in research and development.
Chapter 1A makes relief available in the form of a credit in respect of expenditure on research and development, which becomes payable in certain circumstances.
Chapter 2 makes alternative relief available, in the form of—
an additional deduction in calculating trading profits, and
a payable credit,
to small or medium-sized enterprises that invest heavily in research and development and do not make associated trading profits.
Chapter 8 limits the reliefs provided by Chapters 1A and 2.
Chapter 9 contains definitions and other supplementary provision.
Annotations
Textual amendments
- F1
S. 1039 substituted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 4(2), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
Notes on Part 13
Textual amendments
- F1
Words in Pt. 13 heading omitted (with effect in relation to accounting periods beginning on or after 1.4.2024) by virtue of Finance Act 2024 (c. 3), Sch. 1 paras. 3, 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2