1042“Relevant research and development”U.K.
(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.