Part 3Income tax, corporation tax and capital gains tax

Chapter 2Other provisions

New reliefs

53Tax relief for expenditure on research and development

1

Schedule 12 to this Act has effect for accounting periods ending on or after 1st April 2002.

2

In that Schedule—

  • Part 1 makes provision about tax relief for large companies on expenditure on research and development;

  • Part 2 makes provision about tax relief for small companies on expenditure on research and development that is sub-contracted to them;

  • Parts 3 to 6 make provision about the form of the relief, special provision about insurance companies and supplementary and general provision.