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Finance Act 2008

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This is the original version (as it was originally enacted).

Part 2Consequential amendments

8In Schedule 20 to FA 2000 (tax relief for expenditure by SMEs on research and development), in paragraph 1 (entitlement), insert at the end—

(5)This paragraph has effect subject to section 29 of the Finance Act 2008 (cap on R&D aid).

9In Schedule 12 to FA 2002 (tax relief for expenditure on research and development)—

(a)after paragraph 10B insert—

Capped SME expenditure

10CFor the purposes of this Schedule, the SME’s “capped SME expenditure” is any expenditure—

(a)in respect of which the company is not entitled to relief under Schedule 20 to the Finance Act 2000 by reason only of section 29 of the Finance Act 2008 (cap on R&D aid), and

(b)which satisfies paragraph 10B(a) and (c).,

(b)in paragraph 11(3)(c), insert at the end “and capped SME expenditure (see paragraph 10C)”, and

(c)in paragraph 15(1)(d), insert at the end “or capped SME expenditure”.

10In Schedule 13 to FA 2002 (tax relief for expenditure on vaccine research etc), in paragraph 1 (entitlement), insert at the end—

(3)This paragraph has effect subject to section 29 of the Finance Act 2008 (cap on R&D aid).

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