Valid from 01/01/2007
4(1)For the first period of account during which the trade is carried on the amount of the additional deduction is given by—U.K.
where—
E is—
(a) so much of the qualifying expenditure as is UK expenditure, or
(b) if less, 80% of the total amount of qualifying expenditure; and
R is the rate of enhancement (see paragraph 5).
(2)For any period of account after the first the amount of the additional deduction is given by—
where—
E is—
(a) so much of the qualifying expenditure incurred to date as is UK expenditure, or
(b) if less, 80% of the total amount of qualifying expenditure incurred to date,
R is the rate of enhancement (see paragraph 5), and
P is the amount of the additional deduction given in the previous period or, as the case may be, the aggregate amount of the additional deductions given in previous periods.
(3)The Treasury may by regulations amend the percentage stated in sub-paragraph (1) or (2).
(4)No such regulations shall be made unless a draft of the regulations has been laid before and approved by a resolution of the House of Commons.