SCHEDULES
SCHEDULE 3Relief for expenditure on R&D
3Removal of R&D threshold
1
Chapter 2 (relief for SMEs: cost of R&D incurred by SME) is amended as follows.
2
In section 1043 (overview of Chapter), in subsection (3), omit paragraph (e) (but not the “and” after it).
3
In section 1044 (additional deduction in calculating profits of trade), omit subsection (3).
4
In section 1045 (alternative treatment for pre-trading expenditure: deemed trading loss)—
a
in subsection (1), omit “, B”, and
b
omit subsection (3).
5
Omit section 1050 (R&D threshold).