Introduction Details of the Section
2.Section 730B(1) is amended by the insertion in paragraph (a), after the word “trade”, of the words “other than an amount treated as an expense by section 450(a) of CAA 2001 (research and development allowances treated as expenses in calculating profits of a trade)”. The amended definition excludes trading expenditure that comes within the definition of research and development allowances from the provisions of Part 14A CTA 2010.
3.Section 212C of CAA 2001 describes the circumstances where, on a “relevant day”, a qualifying change has happened. Where the relevant day is on or after 1 April 2014 the amended section 730B will apply.