Part 4 Miscellaneous Amendments
Finance (No 2) Act 2023 (2023 c 30) | Legislation

Part 4 Miscellaneous Amendments

Amendment of CTA 2009

15

CTA 2009 is amended as follows.

R&D tax relief: circumstances in which enterprises are treated as SMEs

16

(1)     In section 1119—

(a)     in subsection (1), at the end insert “(and see sections 1120A and 1120B)â€;

(b)     in subsection (2), for “section 1120†substitute “sections 1120 to 1120Bâ€.

(2)     In section 1120 (qualifications to section 1119)—

(a)     after subsection (6) insert—

“(6A)     This section is subject to sections 1120A and 1120B.â€;

(b)     in subsection (7), in the words before paragraph (a), after “section†insert “and in sections 1120A and 1120Bâ€.

(3)     After that section insert—

“1120A Enterprise treated as an SME where related enterprise becomes large

(1)     This section applies, in relation to an accounting period, where the following conditions are met.

(2)     The first condition is that, for the duration of the accounting period, an enterprise (“Eâ€) is related to a partner enterprise or linked enterprise (“Fâ€).

(3)     The second condition is that, at the start of the accounting period, both E and F are small or medium-sized enterprises.

(4)     The third condition is that, at the end of the accounting period,

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