{
  "url": "https://openlegislation.uk/finance-act-2016/section-48",
  "json_url": "https://openlegislation.uk/finance-act-2016/section-48.json",
  "legislation": "ukpga/2016/24",
  "legislation_title": "Finance Act 2016",
  "legislation_url": "https://openlegislation.uk/finance-act-2016",
  "path": "section/48",
  "kind": "section",
  "number": "48",
  "heading": "Cap on R&D aid",
  "text": "(1) CTA 2009 is amended as follows.\n(2) In section 1114 (calculation of total R&D aid)—\n(a) in the formula for “(N x CT)” substitute “ N ”, and\n(b) in the definition of “N” for “relief” substitute “ R&D expenditure credit ”.\n(3) In section 1118(1) (meaning of “notional relief”)—\n(a) for “relief” in the first two places it occurs substitute “ R&D expenditure credit ”,\n(b) for “Chapter 5 (relief for large companies)” substitute “ Chapter 6A of Part 3 (trade profits: R&D expenditure credits) ”, and\n(c) in the heading for “relief” substitute “ R&D expenditure credit ”.\n(4) The amendments made by this section have effect in relation to expenditure incurred on or after 1 April 2016.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2016/24/section/48",
    "retrieved_at": "2026-10-28T17:00:50.607796+00:00",
    "licence": "OGL-UK-3.0",
    "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."
  }
}