Related Commentary  Related HMRC Manuals

252A(1)  For the purposes of this Part, the issuing company is a “knowledge-intensive company” at the time the relevant shares are issued if the company meets–

(a)one or both of the operating costs conditions (see subsections (2) and (3)), and

(b)one or both of–

(i)the innovation condition (see subsection (5)), and

(ii)the skilled employee condition (see subsection (8)).

252A(2)  The first operating costs condition is that in at least one of the relevant three preceding years at least 15% of the relevant operating costs constituted expenditure on research and development or innovation.

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