SCHEDULE 13Tax relief for expenditure on vaccine research etc
Part 3Manner of giving effect to relief: large companies
Deduction in computing profits of trade
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(1)
This paragraph applies where a company that does not qualify as a small or medium-sized enterprise in an accounting period is entitled to relief under this Schedule for that period.
(2)
In so far as the company’s qualifying expenditure for that period is deductible in computing for tax purposes the profits for that period of a trade carried on by the company, it is entitled (on making a claim) to an additional deduction in computing the profits of the trade for that period of an amount equal to F140% of the qualifying expenditure.
(3)
In so far as the company’s qualifying expenditure for that period is not so deductible, it may (on making a claim) treat F2140% of that qualifying expenditure as if it were so deductible.
F3(3A)
A claim under this paragraph must include a declaration that the availability of the relief claimed has resulted in an increase in—
(a)
the amount, scope or speed of the research and development undertaken by the company, or
(b)
the company's expenditure on research and development.
(4)
This paragraph is without prejudice to any other deduction in respect of the qualifying expenditure.