# Corporation Tax Act 2009, Section 1058: Amount of tax credit

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

(1) The amount of the R&D tax credit to which a company is entitled for an accounting period is the lesser of—
(a) 14.5% of the amount of the Chapter 2 surrenderable loss for the period, ... and
(aa) the amount of the cap by reference to the company’s PAYE and NIC liabilities for the accounting period (see section 1112B).
(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(1A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(1B) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(1C) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2) The Treasury may by regulations—
(a) replace the percentage for the time being specified in subsection (1)(a) with a different percentage;
(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Source: https://www.legislation.gov.uk/ukpga/2009/4/section/1058 (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2009/section-1058
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.