SCHEDULES
SCHEDULE 31Tax relief for expenditure on research and development
Part 1Small and medium-sized enterprises: Schedule 20 to Finance Act 2000
Required minimum aggregate expenditure: reduction from £25,000 to £10,000
2
(1)
Paragraph 1 (entitlement to R&D tax relief) is amended as follows.
(2)
In sub-paragraph (1)(b)
(requirement for minimum aggregate expenditure of £25,000 or time apportioned part of that amount) in sub-paragraphs (i) and (ii) for “£25,000” substitute “
£10,000
”
.