48Cap on R&D aidU.K.
(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.