Corporation Tax Act 2009 section 1040A

R&D expenditure credits

Section 1040A signposts the provisions that allow a company carrying on a trade to claim an R&D expenditure credit, and the restriction preventing a double claim for the same expenditure.

• A company carrying on a trade may claim an R&D expenditure credit, which is treated as a trading receipt when calculating profits for an accounting period.
• The detailed rules for claiming R&D expenditure credits are found in Chapter 6A of Part 3 of the Corporation Tax Act 2009.
• A company cannot claim both an R&D expenditure credit and relief under Part 13 (additional deductions for R&D) in respect of the same expenditure.
• The restriction preventing a double claim for the same expenditure is set out in section 104B of the Act.