SCHEDULES
C1SCHEDULE 12Tax relief for expenditure on research and development
Annotations:
Modifications etc. (not altering text)
Part 6General provisions
20Transitional provision
1
This Schedule does not apply to expenditure incurred before 1st April 2002.
For this purpose no account shall be taken of section 401 of the Taxes Act 1988 (pre-trading expenditure treated as incurred when trading begins).
2
Paragraphs 1(1) and 7(1) (requirement of minimum amount of qualifying expenditure in an accounting period) apply to an accounting period beginning before and ending after that date as if so much of the period as falls on or after that date were a separate accounting period.
Sch. 12 modified (with effect as specified in art. 2 of the commencing S.I. of the commencing S.I.) by Finance Act 2004 (c. 12), s. 53(2)(6); S.I. 2004/3268, art. 2