Finance Act 2024

CTA 2009U.K.

12(1)CTA 2009 is amended as follows.

(2)In Part 14A (inserted by paragraph 1 of Schedule 2)—

(a)in section 1179DT (expenditure attracting R&D relief not eligible for audiovisual expenditure credit), omit paragraph (a);

(b)in section 1179FL (expenditure attracting R&D relief not eligible for video game expenditure credit), omit paragraph (a).

(3)In section 1195(3A) (expenditure attracting R&D relief or television relief not eligible for film tax relief)—

(a)in paragraph (a), for “Chapter 6A of Part 3” substitute “Chapter 1A of Part 13”;

(b)in paragraph (b), for “Part 13 (additional relief for expenditure on research and development)” substitute “Chapter 2 of Part 13 (relief for loss-making, R&D-intensive SMEs)”.

(4)In section 1216C(4) (expenditure attracting R&D relief not eligible for television relief)—

(a)in paragraph (a), for “Chapter 6A of Part 3” substitute “Chapter 1A of Part 13”;

(b)in paragraph (b), for “Part 13 (additional relief for expenditure on research and development)” substitute “Chapter 2 of Part 13 (relief for loss-making, R&D-intensive SMEs)”.

(5)In section 1217C(4) (expenditure attracting R&D relief not eligible for video game relief)—

(a)in paragraph (a), for “Chapter 6A of Part 3” substitute “Chapter 1A of Part 13”;

(b)in paragraph (b), for “Part 13 (additional relief for expenditure on research and development)” substitute “Chapter 2 of Part 13 (relief for loss-making, R&D-intensive SMEs)”.

(6)In section 1217JA(2) (expenditure attracting R&D relief not eligible for theatre relief)—

(a)omit paragraph (a);

(b)in paragraph (b), omit “additional”.

(7)In section 1217RF(2) (expenditure attracting R&D relief or other creative sector relief not eligible for orchestra relief), omit paragraph (za) (inserted by paragraph 8 of Schedule 4).

(8)In section 1218ZCG(2) (expenditure attracting R&D relief or other creative sector relief not eligible for museum and gallery exhibition relief)—

(a)omit paragraph (a);

(b)in paragraph (b), omit “additional”.

(9)In section 1310(4) (orders and regulations subject to affirmative procedure)—

(a)omit paragraph (zzza);

(b)after paragraph (zb) insert—

“(zc)section 1142(1)(e) (companies ineligible for R&D relief),”.

(10)In Schedule 4 (index of defined expressions)—

(a)omit the following entries—

• “capped R&D expenditure (in Chapter 6A of Part 3)”;

• “large company (in Chapter 6A of Part 3)”;

• “payment period (in Chapter 6A of Part 3”;

• “qualifying body (in Chapter 6A of Part 3)”;

• “qualifying body (in Part 13)”;

• “qualifying expenditure on sub-contracted R&D (in Chapter 6A of Part 3)”;

• “qualifying R&D expenditure (in Chapter 6A of Part 3)”;

• “relevant payment to the subject of a clinical trial (in Chapter 6A of Part 3)”;

• “relevant research and development (in Chapter 6A of Part 3)”;

• “research and development (in Chapter 6A of Part 3)”;

• “software, data licences, cloud computing services or consumable items (in Chapter 6A of Part 3)”;

• “staffing costs (in Chapter 6A of Part 3)”;

• “sub-contractor payment (and sub-contractor) (in Part 13)”;

• “subsidised expenditure (in Part 13)”;

• “subsidised qualifying expenditure (in Chapter 6A of Part 3)”;

(b)at the appropriate places insert—