xmlns:atom="http://www.w3.org/2005/Atom"

SCHEDULES

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

FA 2000

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

(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)”.