The other main reliefs from corporation tax are:

(a) charges, i.e., interest, annual payments and royalty payments (s 243),

(b) interest on money borrowed to invest in another company (s 247), but such relief is denied in the case of lending between connected companies if there is a mismatch between interest lent and claimed,

(c) investment in films (s 481),

(d) investment in renewable energy (s 486B), and

(e) expenditure on “pure” research and development (s 766) – this amounts to a 25% tax credit against corporation tax liability and can lead to a repayment of up to 33% of unused tax credit not fully used in the first accounting period.