This Order corrects an error in S.I. 2004/3267 and is being issued free of charge to all known recipients of that instrument.
Statutory Instruments
2005 No. 3376
CORPORATION TAX
The Research and Development Tax Relief (Definition of “Small or Medium-Sized Enterprise”) Order 2005
Made
7th December 2005
Laid before the House of Commons
8th December 2005
Coming into force in accordance with article 1
Citation, commencement and effect
1. —(1) This Order may be cited as the Research and Development Tax Relief (Definition of “Small or Medium-Sized Enterprise”) Order 2005 and shall come into force on 31st December 2005.
(2) Article 2 has effect in relation to accounting periods ending on or after that date.
(3) Article 3 has effect in relation to expenditure incurred on or after 8th December 2005.
Definition of small or medium-sized enterprise —Finance Act 2000, Schedule 20
2. In paragraph 2(1) of Schedule 20 to the Finance Act 2000(definition of small or medium-sized enterprises for the purposes of tax relief for expenditure on research and development by such enterprises) in paragraph (b) of qualification 1 for “either” substitute “both”.
Definition of small or medium-sized enterprise — Finance Act 2002, Schedule 12
3. In paragraph 2(1)(b) of Schedule 12 to the Finance Act 2002 (definition of small or medium-sized enterprise for the purpose of tax relief for expenditure on research and development: large companies and small or medium-sized enterprises) for the words from “means a small” to the end substitute “has the meaning given by paragraph 2(1) of Schedule 20 to the Finance Act 2000.”.
Dave Watts
Vernon Coaker
Two of the Lords Commissioners of Her Majesty’s Treasury
7th December 2005
2000 c. 17 . The definition was amended by article 2 of S.I. 2004/3267 .