Corporation Tax Act 2009 section 1088

Declaration about effect of relief

Section 1088 requires that any claim for relief on expenditure on a vaccine or medicines development project must be accompanied by a formal declaration about the effect that the relief will have.

• A claim for relief under section 1087 cannot be made on its own — it must be accompanied by a declaration.
• The declaration must confirm the effect that the relief, if granted, would have on the company's tax position.
• This requirement ensures that companies explicitly acknowledge and confirm the consequences of the relief they are claiming.
• The provision originated from paragraph 21 of Schedule 13 to the Finance Act 2002 and was amended by the Finance Act 2016.