- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (31/12/2004)
- Gwreiddiol (Fel y'i Deddfwyd)
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Textual Amendments
F1Sch. 12 Pt. 2A inserted (with effect in accordance with s. 168(4)(d)(iii) of the amending Act) by Finance Act 2003 (c. 14), Sch. 31 para. 15
10A(1)A company (“the SME”) is entitled to tax relief under this Part for an accounting period if—U.K.
(a)it qualifies as a small or medium-sized enterprise in that period, and
(b)its aggregate R&D expenditure for that period is not less than—
(i)£10,000, if the accounting period is a period of 12 months, or
(ii)such amount as bears to £10,000 the same proportion as the accounting period bears to 12 months.
(2)Sub-paragraphs (2) and (3) of paragraph 7 (meaning of “aggregate R&D expenditure” and “for an accounting period”) apply for the purposes of this paragraph as they apply for the purposes of that paragraph.
(3)Any relief to which a company is entitled under this Part for an accounting period is in addition to any relief to which it may be entitled under—
(a)Schedule 20 to the Finance Act 2000, or
(b)Part 2 of this Schedule.
10BU.K.For the purposes of this Schedule, the SME’s “qualifying additional SME expenditure” is any expenditure which—
(a)had the SME been a large company throughout the accounting period in question, would have been qualifying R&D expenditure of that company (see paragraph 3), but
(b)is not qualifying R&D expenditure for the purposes of Schedule 20 to the Finance Act 2000 (see paragraph 3 of that Schedule) in the case of the SME by reason only of paragraph 3(7) or 10(2)(a)(iv) of that Schedule (subsidised expenditure, within the meaning given by paragraph 8 of that Schedule); and
(c)is not qualifying sub-contracted R&D expenditure for the purposes of this Schedule (see paragraph 8) in the case of the SME.]
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