Schedule 14 - R&D expenditure credits

Part of Finance Bill – in a Public Bill Committee am 10:45 am ar 4 Mehefin 2013.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Amount A is the amount equal to the corporation tax that would be chargeable on the set-off amount if—

(a) it did not include any amount treated as an amount of R&D expenditure credit for the accounting period by virtue of step 3 in subsection (2), and

(b) it was an amount of profits (or in the case of a ring fence trade, ring fence profits) of the company for the accounting period and corporation tax on such profits was chargeable at the main rate.