Income Tax (Earnings and Pensions) Act 2003 (c. 1)

SCHEDULES

SCHEDULE 6 U.K. Consequential Amendments

Part 2 U.K. Other enactments

Finance Act 2000 (c. 17) U.K.

245 (1) In Schedule 20 (tax relief for expenditure of research and development), amend paragraph 5 as follows. U.K.

(2) For sub-paragraph (1)(a) substitute—

“(a) the earnings paid by the company to directors or employees of the company;”.

(3) After sub-paragraph (1) insert—

“(1ZA) In sub-paragraph (1)(a) “earnings” means earnings or amounts treated as earnings which constitute employment income (see section 7(2)(a) or (b) of the Income Tax (Earnings and Pensions) Act 2003).”