Section 1042J Treatment of deduction to comply with PAYE and NIC limitF1
United Kingdom
(1)
This section applies if an amount is deducted under step 3 in section 1042I.
(2)
The amount is to be added to the amount of R&D expenditure credit to which the company is entitled for its next accounting period (including where that amount would otherwise be nil).
Annotations
Textual amendments
- F1
Pt. 13 Ch. 1A inserted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 5, 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