Finance Act 2008 (c. 9)

SCHEDULES

SCHEDULE 35 U.K. Set off against oil profits: minor and consequential amendments

FA 2000 U.K.

10 (1) Schedule 20 to FA 2000 (tax relief for expenditure on research and development) is amended as follows. U.K.

(2) In paragraph 15 (entitlement to R&D tax credit)—

(a) in sub-paragraph (4)(b), after “section 393A(1)(b)” insert “ or 393B(3) ”, and

(b) in sub-paragraph (5)(b), after “section 393A(1)(b)” insert “ or 393B(3) ”.

(3) In paragraph 23 (treatment of deemed trading loss), in sub-paragraph (2), after “section 393A(1)(b)” insert “ or 393B(3) ”.