# Corporation Tax Act 2009, Section 1060: Use of credit to pay corporation tax

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

(1) This section applies if an R&D tax credit for an accounting period is payable to a company under this Chapter.
(2) The amount payable in respect of—
(a) the R&D tax credit, or
(b) interest on the credit payable under section 826 of ICTA,
may be applied in discharging any liability of the company to pay corporation tax.
(3) So far as the amount is so applied, the duty of the officer of Revenue and Customs to pay the credit under section 1054(4) is discharged.
(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(7) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Source: https://www.legislation.gov.uk/ukpga/2009/4/section/1060 (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2009/section-1060
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.