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SCHEDULES

SCHEDULE 2U.K.Transitionals and savings

Part 15 U.K.Research and development

R&D threshold in section 1050: qualifying Chapter 3 and 4 expenditureU.K.

113(1)The references in section 1050(3)(b) and (c) to qualifying Chapter 3 expenditure and qualifying Chapter 4 expenditure do not include any such expenditure incurred before 1 April 2002.U.K.

(2)For the purposes of sub-paragraph (1) section 61 (pre-trading expenses) is to be ignored.