SCHEDULES
SCHEDULE 20 Tax relief for expenditure on research and development
Part I Entitlement to relief
Relevant research and development
4
(1)
For the purposes of this Schedule “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)
For the purposes of this Schedule research and development related to a trade carried on by the company includes—
(a)
research and development which may lead to or facilitate an extension of that trade, and
(b)
research and development of a medical nature which has a special relation to the welfare of workers employed in that trade.