Finance (No. 2) Act 2015
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Change 1
31 R&D expenditure credits: ineligible companies
(1) CTA 2009 is amended as follows. (2) In section 104A (R&D expenditure credits), after subsection (7) insert— (7A) Section 104WA contains provision about ineligible companies. (3) After section 104W insert— Ineligible companies Ineligible companies 104WA (1) No claim for an R&D expenditure credit may be made in respect of expenditure incurred by an ineligible company. (2) In this section, “ineligible company” means a company that is— (a) an institution of higher education (as defined by section 1142(1)(b)), (b) a charity, or (c) a company of a description prescribed by the Treasury by regulations. (4) In section 1310(4) (orders and regulations subject to affirmative procedure), before paragraph (zza) insert— (zzza) section 104WA (ineligible companies for the purposes of R&D expenditure credits), . (5) The amendments made by this section have effect in relation to expenditure incurred on or after 1 August 2015.
31 R&D expenditure credits: ineligible companies
(1) CTA 2009 is amended as follows. (2) In section 104A (R&D expenditure credits), after subsection (7) insert— (7A) Section 104WA contains provision about ineligible companies. (3) After section 104W insert— Ineligible companies Ineligible companies 104WA (1) No claim for an R&D expenditure credit may be made in respect of expenditure incurred by an ineligible company. (2) In this section, “ineligible company” means a company that is— (a) an institution of higher education (as defined by section 1142(1)(b)), (b) a charity, or (c) a company of a description prescribed by the Treasury by regulations. (4) In section 1310(4) (orders and regulations subject to affirmative procedure), before paragraph (zza) insert— (zzza) section 104WA (ineligible companies for the purposes of R&D expenditure credits), . (5) The amendments made by this section have effect in relation to expenditure incurred on or after 1 August 2015.
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