Finance Act 2006
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Change 1
SCHEDULE 3 Claims for relief for research and development
Section 29 Introductory 1 Schedule 18 to FA 1998 (company tax returns, assessments and related matters) is amended as follows. Claims to be included in return 2 (1) Paragraph 10 (other claims and elections to be included in return) is amended as follows. (2) In sub-paragraph (2) (claims to which Part 8, 9 or 9A of Schedule 18 applies) for “R&D tax credit” substitute “ R&D tax relief ”. (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Claims for R&D tax relief 3 In paragraph 83A (Part 9A: introduction) for “claims for R&D tax credits” substitute “ claims for R&D tax relief ”. 4 In each of the following provisions for “claim for an R&D tax credit” substitute “ claim to which this Part of this Schedule applies ” (a) paragraph 83B(1) (claim to be included in company tax return); (b) paragraph 83C (content of claim); (c) paragraph 83D (amendment or withdrawal of a claim); (d) paragraph 83E(1) (time limit for claims). 5 In the title of Part 9A, “R&D tax credit” becomes “ R&D tax relief ”. Claims for relief under Schedule 12 to FA 2002 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Claims for relief under Schedule 13 to FA 2002 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Commencement and transitional provision 10 The amendments made by paragraphs 2 to 9 have effect in relation to accounting periods ending on or after 31st March 2006. 11 (1) This paragraph applies where a company is entitled to relief under Schedule 20 to FA 2000 or Schedule 12 or 13 to FA 2002 for any accounting period of the company falling within sub-paragraph (2). (2) An accounting period of a company falls within this sub-paragraph if it ends on a day falling after 31st March 2002 but before 31st March 2006. (3) Sub-paragraphs (4) and (5) apply to any claim by the company for such relief for an accounting period falling within sub-paragraph (2), other than a claim by the company for— (a) an R&D tax credit under Schedule 20 to FA 2000, or (b) a tax credit under Schedule 13 to FA 2002. (4) A claim to which this sub-paragraph applies may be made, amended or withdrawn by the company at any time up to and including 31st March 2008. (5) A claim to which this sub-paragraph applies may be made, amended or withdrawn by the company at a later date if an officer of Revenue and Customs allows it.
SCHEDULE 3 Claims for relief for research and development
Section 29 Introductory 1 Schedule 18 to FA 1998 (company tax returns, assessments and related matters) is amended as follows. Claims to be included in return 2 (1) Paragraph 10 (other claims and elections to be included in return) is amended as follows. (2) In sub-paragraph (2) (claims to which Part 8, 9 or 9A of Schedule 18 applies) for “R&D tax credit” substitute “ R&D tax relief ”. (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Claims for R&D tax relief 3 In paragraph 83A (Part 9A: introduction) for “claims for R&D tax credits” substitute “ claims for R&D tax relief ”. 4 In each of the following provisions for “claim for an R&D tax credit” substitute “ claim to which this Part of this Schedule applies ” (a) paragraph 83B(1) (claim to be included in company tax return); (b) paragraph 83C (content of claim); (c) paragraph 83D (amendment or withdrawal of a claim); (d) paragraph 83E(1) (time limit for claims). 5 In the title of Part 9A, “R&D tax credit” becomes “ R&D tax relief ”. Claims for relief under Schedule 12 to FA 2002 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Claims for relief under Schedule 13 to FA 2002 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Commencement and transitional provision 10 The amendments made by paragraphs 2 to 9 have effect in relation to accounting periods ending on or after 31st March 2006. 11 (1) This paragraph applies where a company is entitled to relief under Schedule 20 to FA 2000 or Schedule 12 or 13 to FA 2002 for any accounting period of the company falling within sub-paragraph (2). (2) An accounting period of a company falls within this sub-paragraph if it ends on a day falling after 31st March 2002 but before 31st March 2006. (3) Sub-paragraphs (4) and (5) apply to any claim by the company for such relief for an accounting period falling within sub-paragraph (2), other than a claim by the company for— (a) an R&D tax credit under Schedule 20 to FA 2000, or (b) a tax credit under Schedule 13 to FA 2002. (4) A claim to which this sub-paragraph applies may be made, amended or withdrawn by the company at any time up to and including 31st March 2008. (5) A claim to which this sub-paragraph applies may be made, amended or withdrawn by the company at a later date if an officer of Revenue and Customs allows it.
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