PART 2Corporation tax
Research and development
48Cap on R&D aid
1
CTA 2009 is amended as follows.
2
In section 1114 (calculation of total R&D aid)—
a
in the formula for “(N x CT)” substitute “N”, and
b
in the definition of “N” for “relief” substitute “R&D expenditure credit”.
3
In section 1118(1) (meaning of “notional relief”)—
a
for “relief” in the first two places it occurs substitute “R&D expenditure credit”,
b
for “Chapter 5 (relief for large companies)” substitute “Chapter 6A of Part 3 (trade profits: R&D expenditure credits)”, and
c
in the heading for “relief” substitute “R&D expenditure credit”.
4
The amendments made by this section have effect in relation to expenditure incurred on or after 1 April 2016.