Section 1039 | Overview of Part

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

(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.

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

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

(b)a payable credit,

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.

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