SCHEDULES

SCHEDULE 2Relief for research and development: subjects of clinical trials

Amendments to Schedule 12 to FA 2002

2

(1)

Schedule 12 to FA 2002 (tax relief for expenditure on research and development: large companies etc) is amended as follows.

(2)

In paragraph 4 (qualifying expenditure on direct research and development), in sub-paragraph (3)—

(a)

omit the word “or” at the end of paragraph (b);

(b)

after that paragraph insert—

“(ba)

is incurred on relevant payments to the subjects of a clinical trial, or”.

(3)

In paragraph 9 (expenditure on research and development directly undertaken by the SME), in sub-paragraph (2)—

(a)

omit the word “or” at the end of paragraph (b);

(b)

after that paragraph insert—

“(ba)

is incurred on relevant payments to the subjects of a clinical trial, or”.

(4)

In paragraph 17 (which applies certain definitions from Schedule 20 to FA 2000)—

(a)

in the heading, after “ “software or consumable items”” insert “ , “relevant payments to the subjects of a clinical trial” ”;

(b)

omit the word “and” at the end of paragraph (c);

(c)

after that paragraph insert—

“(ca)

paragraph 6A (relevant payments to subjects of clinical trials); and”.