SCHEDULES

SCHEDULE 12Tax relief for expenditure on research and development

Part 6General provisions

18Meaning of “qualifying body"

1

For the purposes of this Schedule “qualifying body” means—

a

a charity (within the meaning of section 506(1) of the Taxes Act 1988);

b

an institution of higher education;

c

an Association of a description specified in section 508 of the Taxes Act 1988 (scientific research organisations);

d

a health service body within the meaning of section 519A(2) of that Act; or

e

any other body prescribed, or of a description prescribed, by the Treasury, by order, for the purposes of this Schedule.

2

In sub-paragraph (1)(b), “institution of higher education” means—

a

an institution within the higher education sector within the meaning of the Further and Higher Education Act 1992 (c. 13);

b

an institution within the higher education sector within the meaning of Part 2 of the Further and Higher Education (Scotland) Act 1992 (c. 37) or a central institution within the meaning of the Education (Scotland) Act 1980 (c. 44); or

c

a higher education institution within the meaning of Article 30(3) of the Education and Libraries (Northern Ireland) Order 1993 (1993/ 2810 (N.I. 12)).

3

An order under this paragraph shall have effect in relation to such accounting periods or expenditure as may be specified in the order (which may include accounting periods beginning, or expenditure incurred, before the time the order is made).