Related Commentary  Related HMRC Manuals

87(1)  If a person carrying on a trade incurs expenses of a revenue nature on research and development–

(a)related to the trade, and

(b)directly undertaken by or on behalf of the person,

a deduction is allowed for the expenses in calculating the profits of the trade.

87(2)  For this purpose expenses incurred on research and development–

(a)do not include expenses incurred in the acquisition of rights in, or arising out of, research and development, but

(b)subject to that, include all expenses incurred in carrying out, or providing facilities for carrying out, research and development.

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