No versions valid at: 01/06/2002
Point in time view as at 01/06/2002. This version of this provision is not valid for this point in time.
There are currently no known outstanding effects for the Finance Act 2002, Paragraph 15.
Valid from 24/07/2002
15(1)This paragraph applies where a company receives a payment refunding the whole or any part of—
(a)any qualifying expenditure on sub-contracted research and development (see paragraph 5),
(b)any qualifying expenditure on contributions to independent research and development (see paragraph 6), or
(c)any expenditure which is qualifying sub-contracted R&D expenditure by virtue of paragraph 10,
in respect of which it obtains relief under this Schedule.
(2)The appropriate amount shall be treated as income of the company chargeable to tax under Case I of Schedule D for the accounting period in which the payment is made.
(3)Where, by virtue of paragraph 13(3) (profits of life assurance business chargeable to tax under Case VI of Schedule D), the relief obtained in respect of the contribution or expenditure concerned is a deduction in computing for tax purposes the profits of a part of the life assurance business of the company—
(a)sub-paragraph (2) does not apply, and
(b)the appropriate amount shall be treated as income referrable to that part which is chargeable to tax under Case VI of Schedule D for the accounting period in which the payment is made.
(4)For this purpose “the appropriate amount” means 25% of the payment.
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.
