Related Commentary  

104T(1)  For the purposes of section 104S(2) and (3) 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 R&D expenditure credits under this Chapter.

This is subject to subsection (2).

104T(2)  A company is not a going concern at any time if it is in administration or liquidation at that time.

104T(3)  For the purposes of this section a company is in administration if–

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