SCHEDULES
C1I1SCHEDULE 13Tax relief for expenditure on vaccine research etc
Annotations:
Commencement Information
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
Part 1Entitlement to relief
11Treatment of sub-contractor payment in other cases
Where the principal makes a sub-contractor payment and—
a
the principal and the sub-contractor are not connected persons, and
b
no election is made under paragraph 10 (election for connected persons treatment),
65% of the amount of the sub-contractor payment is treated as qualifying expenditure on sub-contracted research and development.
This is subject to paragraph 7 (conditions that must be satisfied by qualifying expenditure on sub-contracted R&D).
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))