{
  "url": "https://openlegislation.uk/corporation-tax-act-2009/section-1179CC",
  "json_url": "https://openlegislation.uk/corporation-tax-act-2009/section-1179CC.json",
  "legislation": "ukpga/2009/4",
  "legislation_title": "Corporation Tax Act 2009",
  "legislation_url": "https://openlegislation.uk/corporation-tax-act-2009",
  "path": "section/1179CC",
  "kind": "section",
  "number": "1179CC",
  "heading": "Redemption of value of expenditure credit",
  "text": "If a company is entitled to, and claims, an expenditure credit under this Chapter for an accounting period, the credit is to be dealt with as follows.\nStep 1\nThe amount of the credit is to be applied in discharging any liability of the company to pay corporation tax for the accounting period.\nStep 2\nAny amount remaining after step 1 is to be reduced, if necessary, to the amount given by—\nA-Bwhere—\nA is the initial amount of the credit (before step 1), and\nB is the amount of corporation tax that would be chargeable on that amount if it were an amount of profits for the accounting period on which corporation tax was chargeable at the main rate.\nFor provision about the treatment of an amount deducted under this step, see section 1179CD.\nStep 3\nThe amount remaining after step 2 is to be applied in discharging any liability of the company to pay corporation tax for any other accounting period.\nStep 4\nIf the company is a member of a group, it may surrender the whole or part of any amount remaining after step 3 to any other member of the group (as to which see section 1179CE).\nStep 5\nAny amount remaining after step 4 is to be applied in discharging any other liability of the company to pay a sum to the Commissioners for His Majesty’s Revenue and Customs—\n(a)under or by virtue of an enactment, or\n(b)under an agreement made in connection with any person’s liability to make a payment to the Commissioners under or by virtue of an enactment.\nStep 6\nAny amount remaining after step 5 is (subject to sections 1179CG and 1179CH) to be paid to the company by an officer of Revenue and Customs.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Pt. 14A inserted (22.2.2024) by Finance Act 2024 (c. 3), Sch. 2 para. 1 (with Sch. 2 paras. 16(1), 17-25)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2009/4/section/1179CC",
    "retrieved_at": "2026-10-29T09:11:19.560467+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}