SCHEDULES

SCHEDULE 13 U.K.Tax relief for expenditure on vaccine research etc

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

Commencement Information

I1 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))

Part 5 U.K.Supplementary provisions

Interpretation U.K.

27 (1) In this Schedule—

• “the Inland Revenue” means any officer of the Board;

• F1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

• “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);

• F2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

• “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).

[F3 (2) For the purposes of this Schedule whether a person is connected with another is determined in accordance with section 839 of the Taxes Act 1988.]

(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.

Textual Amendments

F1 Words in Sch. 13 para. 27 repealed (19.7.2007) by Finance Act 2007 (c. 11), Sch. 10 para. 16(10), Sch. 27 Pt. 2(10)

F2 Words in Sch. 13 para. 27(1) repealed (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), s. 723, Sch. 8 Pt. 1 (with Sch. 7)

F3 Sch. 13 para. 27(2) substituted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 418 (with Sch. 2)