SCHEDULES
SCHEDULE 13Tax relief for expenditure on vaccine research etc
Part 1Entitlement to relief
I112Qualifying expenditure on contributions to independent research and development
1
Expenditure of a company on contributions to independent research and development is qualifying expenditure where the following conditions are satisfied.
2
The first condition is that the expenditure must be incurred on payments made to—
a
a charity (within the meaning of section 506(1) of the Taxes Act 1988),
b
a university, or
c
an Association of a description specified in section 508 of that Act (scientific research organisations),
for the purpose of funding qualifying R&D activity carried on by the body in question.
3
The second condition is that the R&D activity must be research and development related to a trade carried on by the company.