SCHEDULES

SCHEDULE 10Cap on R&D aid

Part 1Calculation of total R&D aid

Calculation of total R&D aid

5

(1)

In paragraph 1 “the notional relief” is the aggregate amount of relief that the claimant could have claimed under Schedule 12 to FA 2002 (tax relief for expenditure on R&D: large companies etc) in any accounting period in respect of qualifying R&D expenditure attributable to the project if it had been a large company throughout the accounting period.

(2)

In this paragraph—

“large company” has the meaning given in paragraph 2 of Schedule 12 to FA 2002, and

“qualifying R&D expenditure” means expenditure that, in the accounting period in question, was—

(a)

qualifying R&D expenditure within the meaning of Schedule 20 to FA 2000, or

(b)

qualifying expenditure within the meaning of Schedule 13 to FA 2002.