Section 1039 | Overview of Part ^F1

(1)This Part provides relief for companies that invest in research and development.^F1

(2)Chapter 1A makes relief available in the form of a credit in respect of expenditure on research and development, which becomes payable in certain circumstances.^F1

(3)Chapter 2 makes alternative relief available, in the form of—^F1

(a)an additional deduction in calculating trading profits, and^F1

(b)a payable credit,^F1

to small or medium-sized enterprises that invest heavily in research and development and do not make associated trading profits.

(4)Chapter 8 limits the reliefs provided by Chapters 1A and 2.^F1

(5)Chapter 9 contains definitions and other supplementary provision.^F1