SCHEDULES
SCHEDULE 12Tax relief for expenditure on research and development
Part 1Entitlement to relief for R&D expenditure: large companies
3Qualifying R&D expenditure
For the purposes of this Schedule the company’s “qualifying R&D expenditure” is—
a
its qualifying expenditure on direct research and development (see paragraph 4),
b
its qualifying expenditure on sub-contracted research and development (see paragraph 5), and
c
its qualifying expenditure on contributions to independent research and development (see paragraph 6).