Commentary

D1.452 Qualifying expenditure

Corporate tax
Corporate tax | Commentary

D1.452 Qualifying expenditure

Corporate tax | Commentary

D1.452 Qualifying expenditure

The provisions in this article apply to large companies (for expenditure incurred before 1 April 2017) and SMEs (for expenditure incurred before 1 April 2012). The regime was abolished entirely from 1 April 2017.

For the purposes of the vaccine research relief 'qualifying expenditure' means:

  1.  

    •     qualifying expenditure on direct R&D1 (see D1.453), or

  2.  

    •     qualifying expenditure on subcontracted R&D2 (see D1.454)

A company's qualifying expenditure for an accounting period depends upon whether or not the company qualifies as an SME in that period.

Prior to the abolition of VRR for SMEs for expenditure incurred on or after 1 April

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