Finance Act 2000 (c. 17)

SCHEDULES

SCHEDULE 19 U.K. Meaning of “research and development"

Part II U.K. Consequential amendments

Taxation of Chargeable Gains Act 1992 (c.12) U.K.

12 (1) Section 195 of the M1 Taxation of Chargeable Gains Act 1992 (allowance of certain drilling expenditure) is amended as follows. U.K.

(2) In subsections (2) and (3) for “scientific research" in each place substitute “ research and development ”.

(3) In subsection (3) after “that research" insert “ and development ”.

(4) After subsection (7) insert—

“(8) In this section “research and development” has the same meaning as in Part VII of the M2 Capital Allowances Act 1990 (allowances for research and development expenditure).”

Marginal Citations

M1 1992 c. 12.

M2 1990 c. 1.