Valid from 19/07/2006
2(1)Schedule 12 to FA 2002 (tax relief for expenditure on research and development: large companies etc) is amended as follows.U.K.
(2)In paragraph 4 (qualifying expenditure on direct research and development), in sub-paragraph (3)—
(a)omit the word “or” at the end of paragraph (b);
(b)after that paragraph insert—
“(ba)is incurred on relevant payments to the subjects of a clinical trial, or”.
(3)In paragraph 9 (expenditure on research and development directly undertaken by the SME), in sub-paragraph (2)—
(a)omit the word “or” at the end of paragraph (b);
(b)after that paragraph insert—
“(ba)is incurred on relevant payments to the subjects of a clinical trial, or”.
(4)In paragraph 17 (which applies certain definitions from Schedule 20 to FA 2000)—
(a)in the heading, after “ “software or consumable items”” insert “ , “relevant payments to the subjects of a clinical trial” ”;
(b)omit the word “and” at the end of paragraph (c);
(c)after that paragraph insert—
“(ca)paragraph 6A (relevant payments to subjects of clinical trials); and”.