Finance Act 2012 (c. 14)

SCHEDULES

SCHEDULE 3 U.K. Relief for expenditure on R&D

Removal of R&D threshold U.K.

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).