[Part 3 Pre-Commencement Supplement]
Income and Corporation Taxes Act 1988 (1988 c 1) | Legislation

[Part 3 Pre-Commencement Supplement]

[Supplement in respect of a pre-commencement accounting period

9

(1)     Where—

(a)     a qualifying company claims an allowance under section 441 of the Capital Allowances Act (research and development allowances) for the commencement period, and

(b)     the claim is for an allowance in respect of qualifying E&A expenditure incurred before that period,

the company may also claim supplement under this Part of this Schedule (“pre-commencement supplementâ€) in respect of one or more pre-commencement periods.

(2)     Any pre-commencement supplement allowed on a claim in respect of a pre-commencement period shall be treated as an allowance under Part 6 of the Capital Allowances Act for the commencement period in respect of qualifying E&A expenditure incurred by the company.

(3)     The amount of the supplement for any pre-commencement period in respect of which a claim under this paragraph is made is the relevant percentage for that period of the reference amount for that period.

(4)     If the pre-commencement period is a period of less than twelve months, the amount of the supplement for the period (apart from this sub-paragraph) shall be reduced proportionally.

(5)     Paragraphs 10 to 13 have effect for the purpose of determining the reference

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