RATES OF RELIEF

112(1)  In relation to expenditure incurred before 1 August 2008, Part 13 has effect with the following modifications.

112(2)  In Chapter 2 (relief for SMEs: cost of R&D incurred by SME)–

(a)in section 1044(8), for “75%” substitute “50%”,

(b)in section 1045(7), for “175%” substitute “150%”,

(c)in section 1055(2)(b), for “175%” substitute “150%”, and

(d)in section 1058(1)(a), for “14%” substitute “16%”.

112(3)  In Chapter 7 (relief for SMEs and large companies: vaccine research etc)–

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