Part III Income Tax, Corporation Tax and Capital Gains Tax

Chapter II Other provisions

Research and development

68 Meaning of “research and development".

1

Schedule 19 to this Act (meaning of “research and development”) has effect.

In that Schedule—

Part I contains a new definition of “research and development” for the purposes of the Tax Acts, and

Part II contains consequential amendments.

2

The amendments in Part II of that Schedule have effect—

a

for the purposes of income tax and capital gains tax, in relation to the year 2000-01 and subsequent years of assessment, and

b

for the purposes of corporation tax, for accounting periods ending on or after 1st April 2000.