SCHEDULES
SCHEDULE 2Transitionals and savings
Part 15Research and development
Small or medium-sized enterprises
118
1
In relation to expenditure incurred before 1 August 2008, Part 13 has effect with the omission of the larger SME provisions.
2
The “larger SME provisions” are—
sections 1089(4) and 1090 (modification of section 1089 for larger SMEs),
section 1093 (modification of section 1092 for larger SMEs),
section 1104(5) (modification of amount B in section 1104 for larger SMEs),
qualification 1 in section 1120(2) (qualifications to section 1119), and
section 1121 (meaning of “larger SME”).
3
But for the purpose of determining, in relation to expenditure incurred on or after 1 August 2008, whether a company is a small or medium-sized enterprise within the meaning of Part 13, the larger SME provisions are to be treated as always having had effect.