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Regulation 10 Relevant income of an earlier accounting period applied in a later accounting period

Original text. Later amendments are not shown.

For the purposes of regulation 5, in determining the percentage of the amount of the relevant income of an accounting period (“the relevant period”) applied, or intended to be applied, to activities treated as research and development, any amount which—

(a)

arose in an earlier accounting period, and

(b)

is applied, or intended to be applied, in the relevant period,

shall not be taken into account.