SCHEDULE 3 Relief for Expenditure on R&D
Finance Act 2012 (2012 c 14) | Legislation

SCHEDULE 3 Relief for Expenditure on R&D

Section 20

Introductory

1

Part 13 of CTA 2009 (additional relief for expenditure on research and development) is amended as follows.

Amount of relief for expenditure on R&D by small or medium-sized enterprises (“SMEsâ€)

2

(1)     Chapter 2 (relief for SMEs: cost of R&D incurred by SME) is amended as follows.

(2)     . . .

(3)     . . .

(4)     . . .

(5)     In section 1058 (amount of tax credit), in subsection (1)(a), for “12.5%†substitute “11%â€.

Removal of R&D threshold

3

(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 “, Bâ€, and

(b)     omit subsection (3).

(5)     Omit section 1050 (R&D threshold).

4

(1)     Chapter 3 (relief for SMEs: R&D sub-contracted to SME) is amended as follows.

(2)     In section 1063 (additional deduction in calculating profits of trade)—

(a)     in

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