Yn ddilys o 24/07/2002
Qualifying expenditure on contributions to independent research and developmentU.K.
12(1)Expenditure of a company on contributions to independent research and development is qualifying expenditure where the following conditions are satisfied.
(2)The first condition is that the expenditure must be incurred on payments made to—
(a)a charity (within the meaning of section 506(1) of the Taxes Act 1988),
(b)a university, or
(c)an Association of a description specified in section 508 of that Act (scientific research organisations),
for the purpose of funding qualifying R&D activity carried on by the body in question.
(3)The second condition is that the R&D activity must be research and development related to a trade carried on by the company.