Corporation Tax Act 2009 section 1073

Capped R&D expenditure

Section 1073 defines the meaning of "capped R&D expenditure" for the purposes of the R&D expenditure credit regime.

• This section establishes a specific definition of "capped R&D expenditure" used within the R&D tax relief rules.
• The concept of capping places a limit on the amount of R&D expenditure that qualifies for certain relief purposes.
• The definition originated from paragraph 10C of Schedule 12 to the Finance Act 2002 and was rewritten into the Corporation Tax Act 2009.
• The provision was subsequently amended by the Finance Act 2013 (Schedule 15, paragraph 14) to reflect updates to the R&D expenditure credit scheme.