Part 13Additional relief for expenditure on research and development
Chapter 1Introduction
Interpretation
1041“Research and development”
In this Part “research and development” has the meaning given by section 837A of ICTA.
1042“Relevant research and development”
(1)
In this Part “relevant research and development”, in relation to a company, means research and development—
(a)
related to a trade carried on by the company, or
(b)
from which it is intended that a trade to be carried on by the company will be derived.
(2)
Research and development related to a trade carried on by a company includes—
(a)
research and development which may lead to or facilitate an extension of the trade, and
(b)
research and development of a medical nature which has a special relation to the welfare of workers employed in the trade.
(3)
But any reference to “relevant research and development” which applies for the purposes of Chapter 7 (relief for SMEs and large companies: vaccine research etc) is to be read as if subsection (2)(b) were omitted.