Part 1Income tax, corporation tax and capital gains tax
Income tax and corporation tax
13R&D relief for SMEs: removal of intellectual property condition
1
Part 13 of CTA 2009 (additional relief for expenditure on research and development) is amended as follows.
2
In section 1052 (qualifying expenditure on in-house direct R&D)—
a
in subsection (1), for “conditions A to E” substitute “
conditions A, B, D and E
”
, and
b
omit subsection (4) (condition C: intellectual property created as result of research and development to which expenditure is attributable to be vested in company).
3
In section 1053 (qualifying expenditure on contracted out R&D)—
a
in subsection (1)(b), for “conditions A to D” substitute “
conditions A, C and D
”
, and
b
omit subsection (3) (condition B: same intellectual property condition).
F14
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F15
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6
Omit section 1139 (meaning of “intellectual property”).
7
In Schedule 4 to CTA 2009 (index of defined expressions), omit the entry relating to “intellectual property (in Part 13)”.
8
The amendments made by this section have effect in relation to expenditure incurred by a company in an accounting period ending on or after 9 December 2009.