SCHEDULES
SCHEDULE 13Tax relief for expenditure on vaccine research etc
Part 1Entitlement to relief
10Election for connected persons treatment
1
The principal and the sub-contractor may in any case jointly elect that paragraph 8 (treatment of sub-contractor payment where principal and sub-contractor are connected) shall apply to sub-contractor payments made by the principal to the sub-contractor.
2
Any such election must be made in relation to all sub-contractor payments paid under the same contract or other arrangement.
3
The election must be made by notice in writing given to the Inland Revenue.
4
The notice must be given not later than two years after the end of the company’s accounting period in which the contract or other arrangement is entered into.
5
An election under this paragraph, once made, is irrevocable.