# Corporation Tax Act 2009, Section 1042B: Entitlement to credit

Extent: E+W+S+N.I.

(1) A company is entitled to an R&D expenditure credit for an accounting period if it meets conditions A, B and C in this section.
(2) Condition A is that the company carries on a trade in the period.
(3) Condition B is that the company incurs expenditure that is both—
(a) allowable as a deduction in calculating for corporation tax purposes the profits of the trade for the period, and
(b) qualifying Chapter 1A expenditure by virtue of section 1042D, 1042E or 1042F.
(4) Condition C is that the company is not an ineligible company (see section 1142).
(5) The amount of the credit is the relevant percentage (see section 1042G) of the expenditure that satisfies condition B.

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Source: https://www.legislation.gov.uk/ukpga/2009/4/section/1042B (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2009/section-1042B
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.