1042“Relevant research and development”U.K.
(1)In this Part “relevant research and development”, in relation to a company, means research and development—
(a)related to a trade carried on by the company, or
(b)from which it is intended that a trade to be carried on by the company will be derived.
(2)Research and development related to a trade carried on by a company includes—
(a)research and development which may lead to or facilitate an extension of the trade, and
(b)research and development of a medical nature which has a special relation to the welfare of workers employed in the trade.
F1(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1S. 1042(3) omitted (with effect in accordance with s. 47(15) of the amending Act) by virtue of Finance Act 2016 (c. 24), s. 47(4)