Entitlement to relief under this ScheduleU.K.
1(1)A company is entitled to relief under this Schedule for an accounting period if the company’s qualifying expenditure for that period (see paragraph 2) is not less than—
(a)[F1£10,000] , if the accounting period is a period of 12 months, or
(b)such amount as bears to [F2£10,000] the same proportion as the accounting period bears to 12 months.
(2)Relief under this Schedule in respect of any expenditure is in addition to any relief in respect of that expenditure under Schedule 20 to the Finance Act 2000 (c. 17) or Schedule 12 to this Act (tax relief for expenditure on research and development).
Textual Amendments
F1Word in Sch. 13 para. 1(1)(a) substituted (with effect in accordance with s. 168(4)(e) of the amending Act) by Finance Act 2003 (c. 14), Sch. 31 para. 21(2)
F2Word in Sch. 13 para. 1(1)(b) substituted (with effect in accordance with s. 168(4)(e) of the amending Act) by Finance Act 2003 (c. 14), Sch. 31 para. 21(2)