Corporation Tax Act 2009
Sections and provisions with full text and the judgments that cite each one.
Section 1046 — Relief only available where company is going concern
Relief only available where company is going concern 1046 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1047 — Elections under section 1045
Elections under section 1045 1047 1 An election under section 1045 must specify the accounting period in respect of which it is made. 2 The election must be made by notice in writing to an officer of…
Section 1048 — Treatment of deemed trading loss under section 1045
Treatment of deemed trading loss under section 1045 1048 1 This section applies if under section 1045 a company is treated as making a trading loss in an accounting period (“the deemed loss-making…
Section 1049 — Restriction on consortium relief
Restriction on consortium relief 1049 1 This section applies if— a a company claims relief under section 1044 or elects to obtain relief under section 1045 in respect of an accounting period, b at…
Section 1050 — R&D threshold
R&D threshold 1050 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1051 — Qualifying Chapter 2 expenditure
Qualifying Chapter 2 expenditure 1051 For the purposes of this Part a company's “ qualifying Chapter 2 expenditure ” is such of its expenditure as is qualifying Chapter 2 expenditure by virtue of…
Section 1052 — Qualifying expenditure: in-house R&D
Qualifying expenditure: in-house R&D 1052 1 Expenditure of a company is qualifying Chapter 2 expenditure if it meets each of conditions A to D in this section. 2 Condition A is that the expenditure…
Section 1053 — Qualifying expenditure: payments for contracted out R&D
Qualifying expenditure: payments for contracted out R&D 1053 1 Expenditure of a company is qualifying Chapter 2 expenditure if it meets each of conditions A to D in this section. 2 Condition A is…
Section 1053A — Qualifying expenditure: activity as contractor for irrelievable client
Qualifying expenditure: activity as contractor for irrelievable client 1053A 1 Expenditure of a company is qualifying Chapter 2 expenditure if it meets conditions A, B and C in this section. 2…
Section 1054 — Entitlement to and payment of tax credit
Entitlement to and payment of tax credit 1054 1 A company is entitled to an R&D tax credit for an accounting period if it has a Chapter 2 surrenderable loss in the period (see section 1055). 2 For…
Section 1054A — Requirement to make a claim notification
Requirement to make a claim notification 1054A 1 A company may not make a claim under section 1054(2) (an “R&D tax credit claim”) after the end of the claim notification period unless— a the company…
Section 1055 — Meaning of “Chapter 2 surrenderable loss”
Meaning of “Chapter 2 surrenderable loss” 1055 1 For the purposes of this Chapter a company has a “Chapter 2 surrenderable loss” if in an accounting period— a it obtains an additional deduction under…
Section 1056 — Amount of trading loss which is “unrelieved”
Amount of trading loss which is “unrelieved” 1056 1 This section applies for the purposes of section 1055. 2 The amount of a trading loss that is “unrelieved” is the amount of the loss reduced by— a…
Section 1057 — Tax credit only available where company is going concern
Tax credit only available where company is going concern 1057 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1058 — Amount of tax credit
Amount of tax credit 1058 1 The amount of the R&D tax credit to which a company is entitled for an accounting period is the lesser of — a 14.5% of the amount of the Chapter 2 surrenderable loss for…
Section 1058A — Relevant expenditure on workers
Relevant expenditure on workers 1058A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1058B — Total amount of company's PAYE and NIC liabilities
Total amount of company's PAYE and NIC liabilities 1058B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1058C — Avoiding double counting of PAYE and NIC liabilities
Avoiding double counting of PAYE and NIC liabilities 1058C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1058D — Exceptions to tax credit cap
Exceptions to tax credit cap 1058D . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1059 — Total amount of company's PAYE and NIC liabilities
Total amount of company's PAYE and NIC liabilities 1059 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1060 — Use of credit to pay corporation tax
Use of credit to pay corporation tax 1060 1 This section applies if an R&D tax credit for an accounting period is payable to a company under this Chapter. 2 The amount payable in respect of— a the…
Section 1061 — Tax credit payment not income of company
Tax credit payment not income of company 1061 A payment in respect of an R&D tax credit under this Chapter is not income of the company for any tax purposes.
Section 1062 — Restriction on losses carried forward where tax credit claimed
Restriction on losses carried forward where tax credit claimed 1062 1 This section applies if a company claims an R&D tax credit to which it is entitled for an accounting period. 2 For the purposes…
Section 1062A — Insurance company to be treated as large company
Insurance company to be treated as large company 1062A An insurance company that carries on life assurance business in an accounting period is not to be treated for the purposes of this Chapter as a…
Section 1063 — Additional deduction in calculating profits of trade
Additional deduction in calculating profits of trade 1063 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1064 — R&D threshold
R&D threshold 1064 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1065 — Qualifying Chapter 3 expenditure
Qualifying Chapter 3 expenditure 1065 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1066 — Expenditure on sub-contracted R&D undertaken in-house
Expenditure on sub-contracted R&D undertaken in-house 1066 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1067 — Expenditure on sub-contracted R&D not undertaken in-house
Expenditure on sub-contracted R&D not undertaken in-house 1067 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1068 — Additional deduction in calculating profits of trade
Additional deduction in calculating profits of trade 1068 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1069 — R&D threshold
R&D threshold 1069 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1070 — Qualifying Chapter 4 expenditure
Qualifying Chapter 4 expenditure 1070 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1071 — Subsidised qualifying expenditure on in-house direct R&D
Subsidised qualifying expenditure on in-house direct R&D 1071 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1072 — Subsidised qualifying expenditure on contracted out R&D
Subsidised qualifying expenditure on contracted out R&D 1072 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1073 — Capped R&D expenditure
Capped R&D expenditure 1073 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1074 — Additional deduction in calculating profits of trade
Additional deduction in calculating profits of trade 1074 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1075 — R&D threshold
R&D threshold 1075 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1076 — Qualifying Chapter 5 expenditure
Qualifying Chapter 5 expenditure 1076 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1077 — Qualifying expenditure on in-house direct R&D
Qualifying expenditure on in-house direct R&D 1077 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1078 — Qualifying expenditure on contracted out R&D
Qualifying expenditure on contracted out R&D 1078 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1079 — Qualifying expenditure on contributions to independent R&D
Qualifying expenditure on contributions to independent R&D 1079 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1080 — Entitlement to relief: I minus E basis
Entitlement to relief: I minus E basis 1080 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1085 — Overview of Chapter
Overview of Chapter 1085 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1086 — Meaning of “qualifying R&D activity”
Meaning of “qualifying R&D activity” 1086 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1087 — Deduction in calculating profits of trade
Deduction in calculating profits of trade 1087 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1088 — Declaration about effect of relief
Declaration about effect of relief 1088 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1089 — SMEs: amount of deduction
SMEs: amount of deduction 1089 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1090 — Modification of section 1089 for larger SMEs
Modification of section 1089 for larger SMEs 1090 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1091 — Amount of deduction
Amount of deduction 1091 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1092 — SMEs: deemed trading loss for pre-trading expenditure
SMEs: deemed trading loss for pre-trading expenditure 1092 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .