# The Finance Act 2004, Sections 38 to 40 and 45 and Schedule 6 (Consequential Amendment of Enactments) Order 2004, Paragraph 64: Tax relief for research and development: entitlement to relief in respect of “I minus E” basis


(1) In Schedule 12 to the Finance Act 2002 paragraph 13 is amended as follows.
(2) For sub-paragraph (2) (application of Part 3 to treat amounts as disbursed as expenses of management) substitute—
“(2) The provisions of Part 3 which allow a deduction in calculating the profits of a trade apply in relation to the company to treat amounts as expenses payable falling to be brought into account at Step 3 in section 76(7) of the Taxes Act 1988.”.

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Source: https://www.legislation.gov.uk/uksi/2004/2310/schedule/paragraph/64 (the official version)
Page: https://openlegislation.uk/finance-act-2004-sections-38-to-40-and-45-and-schedule-6-consequential-amendment-of-enactments-order-2004/schedule/paragraph-64
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.