Modifications etc. (not altering text)
C1Sch. 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
3For 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).