SCHEDULES
SCHEDULE 3Relief for expenditure on R&D
Abolition of vaccine research relief for SMEs
16
1
Section 1039 (overview of Part 13) is amended as follows.
F12
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3
In subsection (7)—
a
for “Chapters 2 and 7 also provide” substitute “
Chapter 2 also provides
”
, and
b
in paragraph (a), omit “or 7”.
F217
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18
In section 1046 (relief only available where company is going concern), in subsection (2)(b), omit “or Chapter 7”.
19
In section 1057 (tax credit only available where company is going concern), in subsection (4)(b), omit “or Chapter 7”.
F420
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F421
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F422
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F423
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F424
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F425
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F426
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F427
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F428
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F429
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F430
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31
1
Chapter 8 (cap on aid for R&D) is amended as follows.
F32
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3
In section 1115 (“the tax credits”), in subsection (1), omit “or 7”.
32
In consequence of the amendments made by paragraphs 16 to 31—
a
in Schedule 4 to CTA 2009 (index of defined expressions), omit the entry for “Chapter 7 surrenderable loss”,
b
in Schedule 1 to CTA 2010, omit paragraphs 672 to 674, and
c
in section 43 of FA 2011, omit subsections (7) to (11).