Modifications etc. (not altering text)
C1Sch. 13 modified (with effect as specified in art. 2 of the commencing S.I. of the commencing S.I.) by Finance Act 2004 (c. 12), s. 53(2)(6); S.I. 2004/3268, art. 2
Commencement Information
I1Sch. 13 has effect in relation to expenditure incurred on or after 22.4.2003 by The Finance Act 2002, Schedule 13 (Appointed Day) Order 2003 (S.I. 2003/1472), art. 2 (with para. 28(1))
21(1)This paragraph applies where a company that does not qualify as a small or medium-sized enterprise in an accounting period is entitled to relief under this Schedule for that period.
(2)In so far as the company’s qualifying expenditure for that period is deductible in computing for tax purposes the profits for that period of a trade carried on by the company, it is entitled (on making a claim) to an additional deduction in computing the profits of the trade for that period of an amount equal to [F140%] of the qualifying expenditure.
(3)In so far as the company’s qualifying expenditure for that period is not so deductible, it may (on making a claim) treat [F2140%] of that qualifying expenditure as if it were so deductible.
[F3(3A)A claim under this paragraph must include a declaration that the availability of the relief claimed has resulted in an increase in—
(a)the amount, scope or speed of the research and development undertaken by the company, or
(b)the company's expenditure on research and development.]
(4)This paragraph is without prejudice to any other deduction in respect of the qualifying expenditure.
Textual Amendments
F1Word in Sch. 13 para. 21(2) substituted (with effect in accordance with Sch. 8 para. 3(4) of the amending Act) by Finance Act 2008 (c. 9), Sch. 8 para. 3(2)(d)
F2Word in Sch. 13 para. 21(3) substituted (with effect in accordance with Sch. 8 para. 3(4) of the amending Act) by Finance Act 2008 (c. 9), Sch. 8 para. 3(3)(c)
F3Sch. 13 para. 21(3A) inserted (with effect in accordance with s. 30(2) of the amending Act) by Finance Act 2008 (c. 9), s. 30(1)