Required minimum aggregate expenditure: reduction from £25,000 to £10,000U.K.
2(1)Paragraph 1 (entitlement to R&D tax relief) is amended as follows.U.K.
(2)In sub-paragraph (1)(b) (requirement for minimum aggregate expenditure of £25,000 or time apportioned part of that amount) in sub-paragraphs (i) and (ii) for “£25,000” substitute “ £10,000 ”.
Commencement Information
I1Sch. 31 para. 2 has effect as specified by The Finance Act 2003, Section 168 (Appointed Day) Order 2003 (S.I. 2003/2497), art. 2