Related Commentary  Related CasesRelated HMRC Manuals

437(1)  Allowances are available under this Part if a person incurs qualifying expenditure on research and development.

437(2)  In this Part “research and development” –

(a)means activities that fall to be treated as research and development in accordance with generally accepted accounting practice, and

(b)includes oil and gas exploration and appraisal.

437(3)  But–

Want to read more?

This content requires a Croner-i Tax and Accounting subscription.

No subscription?

Contact us to discuss your requirements.