Finance Act 2008

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Amendment of section 766 (tax credit for research and development expenditure) of Principal Act.

50.— (1) Section 766 of the Principal Act is amended in subsection (1)(a) in the definition of “threshold amount”—

(a) in paragraph (i) by substituting “1 January 2014” for “1 January 2010”, and

(b) in paragraph (ii) by substituting “10 years” for “3 years”.

(2) This section applies to accounting periods commencing on or after 1 January 2008.