Finance Act 2008 (c. 9)

SCHEDULES

SCHEDULE 8 Rates of research and development relief and vaccine research relief

Rates of research and development tax relief: large companies

2 (1) In Schedule 12 to FA 2002 (tax relief for expenditure on research and development), in both of the following provisions, for “25%” substitute “30%”—

(a) paragraph 11(2) (deduction in computing profits of trade), and

(b) paragraph 15(4) (refunds of contributions to independent research and development etc).

(2) The amendments made by sub-paragraph (1) have effect in relation to expenditure incurred on or after 1 April 2008.