SCHEDULES
C1SCHEDULE 13Tax relief for expenditure on vaccine research etc
Part 5Supplementary provisions
I127Interpretation
1
In this Schedule—
“the Inland Revenue” means any officer of the Board;
“life assurance business” has the meaning given in section 431(2) of the Taxes Act 1988;
“national insurance contributions” means contributions under Part 1 of the Social Security Contributions and Benefits Act 1992 (c. 4) or Part 1 of the Social Security Contributions and Benefits (Northern Ireland) Act 1992 (c. 7);
F1...
“payment period” has the meaning given in paragraph 17(2) of Schedule 20 to the Finance Act 2000 (c. 17);
“research and development” has the meaning given by section 837A of the Taxes Act 1988;
“surrenderable loss” has the meaning given in paragraph 16(2).
2
Section 839 of the Taxes Act 1988 (connected persons) applies for the purposes of this Schedule.
3
For the purposes of this Schedule a company not within the charge to corporation tax that incurs qualifying expenditure is treated as having such accounting periods as it would have—
a
if it carried on a trade consisting of the qualifying R&D activity on which the expenditure is incurred, and
b
if it had started to carry on that trade when it started to carry on that activity.
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