Paragraph 18 Meaning of expenditure incurred on payments

In section 104Y (R&D expenditure credits: interpretation), at the end insert—

“(4)

References in this Chapter to expenditure incurred on payments (however expressed) are references to expenditure incurred on payments made before the making of a claim under this Chapter in relation to that expenditure.”

Before section 1140 insert—

“Expenditure incurred on payments

1139A

(1)

References in this Part to expenditure incurred on payments (however expressed) are references to expenditure incurred on payments made before the making of a claim under this Part in relation to that expenditure.”