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

Deduction in computing profits of trade

17

(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).”.