SCHEDULES

SCHEDULE 13 U.K.Tax relief for expenditure on vaccine research etc

Modifications etc. (not altering text)

C1 Sch. 13 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

Commencement Information

I1 Sch. 13 has effect in relation to expenditure incurred on or after 22.4.2003 by The Finance Act 2002, Schedule 13 (Appointed Day) Order 2003 (S.I. 2003/1472), art. 2 (with para. 28(1))

Part 1 U.K.Entitlement to relief

Entitlement to relief under this Schedule U.K.

1 (1) A company is entitled to relief under this Schedule for an accounting period if the company’s qualifying expenditure for that period (see paragraph 2) is not less than—

(a) [F1 £10,000] , if the accounting period is a period of 12 months, or

(b) such amount as bears to [F2 £10,000] the same proportion as the accounting period bears to 12 months.

(2) Relief under this Schedule in respect of any expenditure is in addition to any relief in respect of that expenditure under Schedule 20 to the Finance Act 2000 (c. 17) or Schedule 12 to this Act (tax relief for expenditure on research and development).

Textual Amendments

F1 Word in Sch. 13 para. 1(1)(a) substituted (with effect in accordance with s. 168(4)(e) of the amending Act) by Finance Act 2003 (c. 14), Sch. 31 para. 21(2)

F2 Word in Sch. 13 para. 1(1)(b) substituted (with effect in accordance with s. 168(4)(e) of the amending Act) by Finance Act 2003 (c. 14), Sch. 31 para. 21(2)