Corporation Tax Act 2009 section 104Y

Interpretation

Section 104Y provides the key definitions used throughout the R&D expenditure credit regime, ensuring consistent interpretation of its terms.

• The section defines several important terms including "large company", "small or medium-sized enterprise", "qualifying body", and "relevant research and development".
• It also defines "payment period" and "research and development" for the purposes of the chapter.
• Two companies are treated as members of the same group if they fall within the same group for group relief purposes under Part 5 of CTA 2010.
• These definitions are essential for determining eligibility and applying the rules correctly across the R&D expenditure credit provisions.