Section 1142C Right to payment of credit inalienableF1
(1)
The right of a company to be paid an amount of R&D expenditure credit or R&D tax credit may not be assigned.
(2)
Accordingly, a purported assignment of such a right, or an agreement to assign such a right, is void.
(3)
References to assignment in this section are to be read in Scotland as references to assignation.
Annotations
Textual amendments
- F1
S. 1142C inserted (22.2.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 9(16), 16 (with Sch. 1 paras. 17, 18)
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