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3(1)Schedule 13 to FA 2002 (vaccine research relief) is amended as follows.U.K.
(2)In each of the following provisions, for “50%” substitute “ 40% ”
(a)paragraph 14(2) (deduction in computing profits of trade: small and medium-sized companies),
(b)paragraph 15(2)(a) (alternative treatment of pre-trading expenditure: deemed trading loss),
(c)paragraph 15A(2) (modifications for larger SMEs claiming R&D tax credits),
(d)paragraph 21(2) (deduction in computing profits of trade: large companies), and
F1(e). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3)In each of the following provisions, for “150%” substitute “ 140% ”
(a)paragraph 15(2)(b) (alternative treatment of pre-trading expenditure: deemed trading loss),
(b)paragraph 16A(1) (entitlement to tax credit: modifications for larger SMEs),
(c)paragraph 21(3) (deduction in computing profits of trade: large companies), and
F2(d). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4)The amendments made by this paragraph have effect in relation to expenditure incurred on or after such day as the Treasury may by order appoint.
(5)The Treasury may appoint a day before the day on which this Act is passed, but not one before 1 April 2008.
Textual Amendments
F1Sch. 8 para. 3(2)(e) omitted (with effect in accordance with s. 27(10) of the amending Act) by virtue of Finance Act 2008 (c. 9), s. 27(9); S.I. 2008/1930, art. 2
F2Sch. 8 para. 3(3)(d) omitted (with effect in accordance with s. 27(10) of the amending Act) by virtue of Finance Act 2008 (c. 9), s. 27(9); S.I. 2008/1930, art. 2
Commencement Information
I1Sch. 8 para. 3(2)(3) has effect as specified by The Finance Act 2008, Section 26 (Appointed Day) Order 2008 (S.I. 2008/1933), art. 2