3(1)Chapter 2 (relief for SMEs: cost of R&D incurred by SME) is amended as follows.U.K.
(2)In section 1043 (overview of Chapter), in subsection (3), omit paragraph (e) (but not the “and” after it).
(3)In section 1044 (additional deduction in calculating profits of trade), omit subsection (3).
(4)In section 1045 (alternative treatment for pre-trading expenditure: deemed trading loss)—
(a)in subsection (1), omit “, B”, and
(b)omit subsection (3).
(5)Omit section 1050 (R&D threshold).
4(1)Chapter 3 (relief for SMEs: R&D sub-contracted to SME) is amended as follows.U.K.
(2)In section 1063 (additional deduction in calculating profits of trade)—
(a)in subsection (1), omit “, B”, and
(b)omit subsection (3).
(3)Omit section 1064 (R&D threshold).
5(1)Chapter 4 (relief for SMEs: subsidised and capped expenditure on R&D) is amended as follows.U.K.
(2)In section 1068 (additional deduction in calculating profits of trade)—
(a)in subsection (1), omit “, B”, and
(b)omit subsection (3).
(3)Omit section 1069 (R&D threshold).
6(1)Chapter 5 (relief for large companies) is amended as follows.U.K.
(2)In section 1074 (additional deduction in calculating profits of trade)—
(a)in subsection (1), omit “, B”, and
(b)omit subsection (3).
(3)Omit section 1075 (R&D threshold).
F17U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Sch. 3 para. 7 omitted (with effect in accordance with s. 47(15) of the amending Act) by virtue of Finance Act 2016 (c. 24), s. 47(14)(a)
8U.K.In consequence of the amendments made by paragraphs 3 to 7, in Schedule 4 to CTA 2009 omit each of the entries for “R&D threshold”.