SCHEDULES

SCHEDULE 3Relief for expenditure on R&D

29Abolition of vaccine research relief for SMEs

1

Section 1112 (artificially inflated claims for relief or tax credit) is amended as follows.

2

In subsection (1), for “the purposes mentioned in subsection (2)” substitute “the purpose of determining for an accounting period relief to which a company is entitled under this Chapter”.

3

Omit subsection (2).

4

In subsection (3)—

a

at the end of paragraph (a) insert “or”, and

b

omit paragraphs (c) and (d).

5

Accordingly, the heading of that section becomes “Artificially inflated claims for relief”.