Finance Act 2003 (c. 14)

SCHEDULES

SCHEDULE 31 U.K. Tax relief for expenditure on research and development

Part 6 U.K. Expenditure on vaccine research etc: Schedule 13 to Finance Act 2002

Reduction of required qualifying expenditure from £25,000 to £10,000 U.K.

21 (1) Paragraph 1 (entitlement to relief under the Schedule) is amended as follows. U.K.

(2) In sub-paragraph (1) (requirement for minimum qualifying expenditure of £25,000 or time apportioned part of that amount) in paragraphs (a) and (b) for “£25,000” substitute “ £10,000 ”.

Commencement Information

I1 Sch. 31 para. 21 has effect as specified by The Finance Act 2003, Section 168 (Appointed Day) Order 2003 (S.I. 2003/2497), art. 2