Related Commentary  Related HMRC Manuals

1046(1)  A company may only make–

(a)a claim under section 1044, or

(b)an election under section 1045,

at a time when it is a going concern.

1046(2)  For the purposes of this section a company is a going concern if–

(a)its latest published accounts were prepared on a going concern basis, and

(b)nothing in those accounts indicates that they were only prepared on that basis because of an expectation that the company would receive relief or R&D tax credits under this Chapter.

This is subject to subsection (2A).

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