Capital Allowances Act 2001 (c. 2)

Schedules

Schedule 3 U.K. Transitionals and savings

Part 8 U.K. Research and development allowances

References to research and development in relation to new trades U.K.

90 (1) Where—

(a) a trade is set up and commenced in the year of assessment 1999-00, and

(b) its first period of account ends after 6th April 2001,

Part 6 of this Act has effect in relation to that year as if references to research and development were references to scientific research.

(2) In this paragraph “scientific research” means any activities in the fields of natural or applied science for the extension of knowledge.