Paragraph 11 Power of HMRC to collect overpaid R&D tax relief or expenditure credit

in sub-paragraph (2) omit paragraphs (bza) and (ba);

for sub-paragraph (2A) substitute—

“(2A)

The provisions of paragraphs 41 and 45 to 48 relating to discovery assessments apply to an amount paid to a company by way of—

(a)

first-year tax credit under Schedule A1 to the Capital Allowances Act;

(b)

R&D expenditure credit under Chapter 6A of Part 3 of the Corporation Tax Act 2009;

(c)

R&D tax credit under Chapter 2 or 7 of Part 13 of that Act,

but only to the extent that the company was not, or is no longer, entitled to the credit.”