SCHEDULES
SCHEDULE 3Relief for expenditure on R&D
Removal of limit on amount of tax credit based on PAYE and NIC liabilities
15
1
Chapter 2 (relief for SMEs: cost of R&D incurred by SME) is amended as follows.
2
In section 1058 (amount of tax credit), in subsection (1), omit paragraph (b) (and the “or” before it).
3
Omit section 1059 (total amount of company's PAYE and NIC liabilities).