Related Commentary  Related HMRC Manuals

104N(1)  This section applies if a company is entitled to an R&D expenditure credit for an accounting period under this Chapter.

104N(2)  The amount to which the company is entitled in respect of the R&D expenditure credit (“the set-off amount”) is to be treated in the following way–

Step 1

The set-off amount is to be applied in discharging any liability of the company to pay corporation tax for the accounting period.

If any of the set-off amount is remaining, go to step 2.

Step 2

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