SCHEDULES

SCHEDULE 17Minor amendments of or connected with the Income Tax (Earnings and Pensions) Act 2003

7Tax relief for expenditure on R&D or remediation of contaminated land: staff costs

1

In Schedule 20 to the Finance Act 2000 (c. 17) (tax relief for expenditure on research and development), in paragraph 5 (staffing costs)—

a

in sub-paragraph (1), for paragraph (a) substitute—

a

the emoluments paid by the company to directors or employees of the company, including all salaries, wages, perquisites and profits whatsoever other than benefits in kind;

b

omit sub-paragraph (1ZA).

2

In Schedule 22 to the Finance Act 2001 (c. 9) (remediation of contaminated land), in paragraph 5 (employee costs)—

a

in sub-paragraph (1), for paragraph (a) substitute—

a

the emoluments paid by the company to directors or employees of the company, including all salaries, wages, perquisites and profits whatsoever other than benefits in kind;

b

omit sub-paragraph (1A).

3

These amendments have effect in relation to expenditure incurred on or after 1st April 2004.