Required minimum aggregate expenditure: reduction from £25,000 to £10,000
2(1)Paragraph 1 (entitlement to R&D tax relief) is amended as follows.
(2)In sub-paragraph (1)(b) (requirement for minimum aggregate expenditure of £25,000 or time apportioned part of that amount) in sub-paragraphs (i) and (ii) for “£25,000” substitute “£10,000”.