Section 1112A — Corporation Tax Act 2009: Overview of Chapter

Overview of Chapter 1112A 1 This Chapter limits the entitlements given by Chapters 1A and 2.

2 Sections 1112B to 1112E provide for the amount of R&D expenditure credit or R&D tax credit payable to a company to be capped by reference to certain liabilities of the company in connection with PAYE and national insurance, except in certain cases.

3 Sections 1112F and 1112G provide that payment of an R&D expenditure credit, and relief under Chapter 2, are available only to companies that are going concerns.

4 Section 1112H provides that an R&D expenditure credit or R&D tax credit does not have to be paid if a tax enquiry into the company is open or the company has outstanding PAYE or national insurance liabilities.

5 Section 1112I provides for transactions aimed at obtaining or increasing an entitlement under Chapter 1A or 2 not to succeed in doing so.

6 Section 1112J contains provision about the amount of relief to which certain Northern Ireland companies are entitled under Chapter 2.