Corporation Tax Act 2009 section 1039

Overview of Part

Section 1039 provides an overview of Part 13, which sets out the different forms of tax relief available to companies that invest in research and development.

• Part 13 provides corporation tax relief for companies investing in research and development, supplementing ordinary deductions available under section 87
• Chapter 1A offers relief in the form of a credit for R&D expenditure, which becomes payable in certain circumstances
• Chapter 2 provides alternative relief for small or medium-sized enterprises that invest heavily in R&D but do not generate associated trading profits, through an additional deduction in calculating trading profits and a payable credit
• Chapters 8 and 9 impose limits on the reliefs and contain definitions and supplementary provisions respectively