• Accessibility
• Email alerts
• RSS feeds
• Contact us

House of Commons

Session 2008 - 09 Internet Publications Other Bills before Parliament

Corporation Tax Bill

Corporation Tax Bill l
Part 13
Additional relief for expenditure on research and development
Chapter 1
Introduction
Introductory
1039    Overview of Part
1040    Relief may be available under more than one Chapter of Part
Interpretation
1041    “Research and development”
1042    “Relevant research and development”
Chapter 2
Relief for SMEs: cost of R&D incurred by SME
Introductory
1043    Overview of Chapter
Reliefs
1044    Additional deduction in calculating profits of trade
1045    Alternative treatment for pre-trading expenditure: deemed trading loss
Reliefs: further provision
1046    Relief only available where company is going concern
1047    Elections under section 1045
1048    Treatment of deemed trading loss under section 1045
1049    Restriction on consortium relief
Threshold
1050    R&D threshold
Qualifying expenditure
1051    Qualifying Chapter 2 expenditure
1052    Qualifying expenditure on in-house direct R&D
1053    Qualifying expenditure on contracted out R&D
Tax credit: entitlement and payment
1054    Entitlement to and payment of tax credit
1055    Meaning of “Chapter 2 surrenderable loss”
1056    Amount of trading loss which is “unrelieved”
1057    Tax credit only available where company is going concern
Corporation Tax Bill li
Amount of tax credit
1058    Amount of tax credit
1059    Total amount of company’s PAYE and NIC liabilities
Supplementary
1060    Payment of tax credit
1061    Tax credit payment not income of company
1062    Restriction on losses carried forward where tax credit claimed
Chapter 3
Relief for SMEs: R&D sub-contracted to SME
Relief
1063    Additional deduction in calculating profits of trade
Threshold
1064    R&D threshold
Qualifying expenditure
1065    Qualifying Chapter 3 expenditure
1066    Expenditure on sub-contracted R&D undertaken in-house
1067    Expenditure on sub-contracted R&D not undertaken in-house
Chapter 4
Relief for SMEs: subsidised and capped expenditure on R&D
Relief
1068    Additional deduction in calculating profits of trade
Threshold
1069    R&D threshold
Qualifying expenditure
1070    Qualifying Chapter 4 expenditure
1071    Subsidised qualifying expenditure on in-house direct R&D
1072    Subsidised qualifying expenditure on contracted out R&D
1073    Capped R&D expenditure
Chapter 5
Relief for large companies
Relief
1074    Additional deduction in calculating profits of trade
Corporation Tax Bill lii
Threshold
1075    R&D threshold
Qualifying expenditure
1076    Qualifying Chapter 5 expenditure
1077    Qualifying expenditure on in-house direct R&D
1078    Qualifying expenditure on contracted out R&D
1079    Qualifying expenditure on contributions to independent R&D
Insurance companies
1080    Entitlement to relief: I minus E basis
Chapter 6
Chapters 2 to 5: further provision
1081    Insurance companies treated as large companies
1082    R&D expenditure of group companies
1083    Refunds of expenditure treated as income chargeable to tax
1084    Artificially inflated claims for relief or tax credit
Chapter 7
Relief for SMEs and large companies: vaccine research etc
Introductory
1085    Overview of Chapter
1086    Meaning of “qualifying R&D activity”
Reliefs
1087    Deduction in calculating profits of trade
1088    Large companies: declaration about effect of relief
1089    SMEs: amount of deduction
1090    Modification of section 1089 for larger SMEs
1091    Large companies: amount of deduction
1092    SMEs: deemed trading loss for pre-trading expenditure
1093    Modification of section 1092 for larger SMEs
1094    Relief only available to SME where company is going concern
Deemed trading loss: further provision
1095    Elections under section 1092
1096    Treatment of deemed trading loss under section 1092
Threshold
1097    R&D threshold
Corporation Tax Bill liii
Qualifying expenditure
1098    Meaning of “qualifying Chapter 7 expenditure”
1099    SMEs: qualifying expenditure “for” an accounting period
1100    Large companies: qualifying expenditure “for” an accounting period
1101    Qualifying expenditure on in-house direct R&D
1102    Qualifying expenditure on contracted out R&D
Tax credit: entitlement and payment
1103    Entitlement to and payment of tax credit
1104    Meaning of “Chapter 7 surrenderable loss”
1105    Amount of trading loss which is “unrelieved”
1106    Tax credit only available where company is going concern
Amount of tax credit
1107    Amount of tax credit
1108    Total amount of company’s PAYE and NIC liabilities
Supplementary
1109    Payment of tax credit
1110    Tax credit payment not income of company
1111    Restriction on losses carried forward where tax credit claimed
Tax avoidance
1112    Artificially inflated claims for relief or tax credit
Chapter 8
Cap on aid for R&D
1113    Cap on R&D aid under Chapter 2 or 7
1114    Total R&D aid
1115    “The tax credits”
1116    “The actual reduction in tax liability”
1117    “The potential relief”
1118    “The notional relief”
Chapter 9
Supplementary
SMEs and large companies
1119    “Small or medium-sized enterprise”
1120    Qualifications to section 1119
1121    “Larger SME”
1122    “Large company”
Staffing costs
1123    “Staffing costs”
Corporation Tax Bill liv
1124    Staffing costs: attributable expenditure
Software or consumable items
1125    “Software or consumable items”
1126    Software or consumable items: attributable expenditure
Qualifying expenditure on externally provided workers
1127    “Qualifying expenditure on externally provided workers”
1128    “Externally provided worker”
1129    Qualifying expenditure on externally provided workers: connected persons
1130    Election for connected persons treatment
1131    Qualifying expenditure on externally provided workers: other cases
1132    External workers: attributable expenditure
Sub-contractor payments
1133    “Sub-contractor” and “sub-contractor payment”
1134    Qualifying element of sub-contractor payment: connected persons
1135    Election for connected persons treatment
1136    Qualifying element of sub-contractor payment: other cases
Miscellaneous
1137    Accounting periods: company not within charge to corporation tax
1138    “Subsidised expenditure”
1139    “Intellectual property”
1140    “Relevant payments to the subjects of a clinical trial”
1141    “Payment period”
1142    “Qualifying body”
Part 14
Remediation of contaminated land
Chapter 1
Introduction
Introductory
1143    Overview of Part
Basic definitions
1144    “Qualifying land remediation expenditure”
1145    Land “in a contaminated state”
1146    “Relevant land remediation”
Corporation Tax Bill lv
Chapter 2
Reliefs for expenditure on contaminated land
1147    Deduction for capital expenditure
1148    Election under section 1147
1149    Additional deduction for qualifying land remediation expenditure
1150    No relief if company responsible for contamination
Chapter 3
Land remediation tax credit
Entitlement and payment
1151    Entitlement to and payment of tax credit
1152    Meaning of “qualifying land remediation loss”
1153    Amount of a loss which is “unrelieved”
Amount of tax credit
1154    Amount of tax credit
Supplementary
1155    Payment of tax credit
1156    Tax credit payment not income of company
1157    Exclusion for capital gains purposes of certain expenditure
1158    Restriction on losses carried forward where tax credit claimed
Chapter 4
Special provision for life assurance business
General
1159    Limitation on relief under Chapter 2
I minus E basis
1160    Provision in respect of I minus E basis
Relief for qualifying Chapter 4 expenditure
1161    Relief in respect of I minus E basis: enhanced expenses payable
1162    Meaning of “qualifying Chapter 4 expenditure”
1163    No relief if company responsible for contamination
Life assurance company tax credits
1164    Entitlement to tax credit
1165    Meaning of “qualifying life assurance business loss”
1166    Amount of tax credit
1167    Payment of tax credit etc
Corporation Tax Bill lvi
1168    Restriction on carrying forward expenses payable where tax credit claimed
Chapter 5
Tax avoidance
1169    Artificially inflated claims for relief or tax credit
Chapter 6
Supplementary
1170    “Staffing costs”
1171    Staffing costs attributable to relevant land remediation
1172    Expenditure on materials
1173    Expenditure incurred because of contamination
1174    Sub-contractor payments
1175    “Qualifying expenditure on sub-contracted land remediation”: connected
persons
1176    “Qualifying expenditure on sub-contracted land remediation”: other cases
1177    “Subsidised expenditure”
1178    Persons having a “relevant connection” to a company
1179    Other definitions
Part 15
Film production
Chapter 1
Introduction
Introductory
1180    Overview of Part
Interpretation
1181    “Film” etc
1182    “Film production company”
1183    “Film-making activities” etc
1184    “Production expenditure”, “core expenditure” and “limited-budget film”
1185    “UK expenditure” etc
1186    “Qualifying co-production” and “co-producer”
1187    “Company tax return”
Chapter 2
Taxation of activities of film production company
Separate film trade
1188    Activities of film production company treated as a separate trade
1189    Calculation of profits or losses of separate film trade

• A-Z index
• Glossary
• Contact us
• Freedom of Information
• Jobs
• Using this website
• Copyright