Finance Act 2025
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Change 1
30 Research and development intensity condition: transitional provision
(1) In paragraph 21 of Schedule 1 to FA 2024 (higher rate of payable credit for R&D-intensive SMEs between 1 April 2023 and 1 April 2024), for sub-paragraph (4) substitute— (4) But that section is to be read for the purposes of sub-paragraph (3) as if— (a) in subsections (2) and (3), for “30%” there were substituted “40%”; (b) in subsection (7), for paragraph (b) there were substituted— (b) it is expenditure in respect of which the company is entitled to relief under this Chapter or Chapter 6A of Part 3 for the period. (2) The amendment made by this section is to be treated as always having had effect.
30 Research and development intensity condition: transitional provision
(1) In paragraph 21 of Schedule 1 to FA 2024 (higher rate of payable credit for R&D-intensive SMEs between 1 April 2023 and 1 April 2024), for sub-paragraph (4) substitute— (4) But that section is to be read for the purposes of sub-paragraph (3) as if— (a) in subsections (2) and (3), for “30%” there were substituted “40%”; (b) in subsection (7), for paragraph (b) there were substituted— (b) it is expenditure in respect of which the company is entitled to relief under this Chapter or Chapter 6A of Part 3 for the period. (2) The amendment made by this section is to be treated as always having had effect.
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