SCHEDULES

SCHEDULE 31Tax relief for expenditure on research and development

Part 5Supplementary: amendments to Parts 3 to 6 of Schedule 12 to Finance Act 2002

17Deduction in computing profits of trade

1

Paragraph 11 is amended as follows.

2

In sub-paragraph (1) (application of paragraph) for “Part 1 or 2” substitute “Part 1, 2 or 2A”.

3

In sub-paragraph (3) (meaning of “qualifying expenditure”) omit the word “and” immediately preceding paragraph (b) and at the end of that paragraph insert

, and

c

in the case of relief under Part 2A, qualifying additional SME expenditure (see paragraph 10B).