Finance Act 2003 (c. 14)

SCHEDULES

SCHEDULE 31 U.K. Tax relief for expenditure on research and development

Part 2 U.K. Large companies: Part 1 of Schedule 12 to Finance Act 2002

Required minimum aggregate expenditure: reduction from £25,000 to £10,000 U.K.

9 (1) Paragraph 1 (entitlement to relief under Part 1 of the Schedule) is amended as follows. U.K.

(2) In sub-paragraph (1)(b) (requirement for minimum qualifying R&D expenditure of £25,000 or time apportioned part of that amount) in sub-paragraphs (i) and (ii) for “£25,000” substitute “ £10,000 ”.