In paragraph 1 “the notional relief” is the aggregate amount of relief that the claimant could have claimed under Schedule 12 to FA 2002 (tax relief for expenditure on R&D: large companies etc) in any accounting period in respect of qualifying R&D expenditure attributable to the project if it had been a large company throughout the accounting period.

In this paragraph—

• “large company” has the meaning given in paragraph 2 of Schedule 12 to FA 2002, and

• “qualifying R&D expenditure” means expenditure that, in the accounting period in question, was—

  1. a

     qualifying R&D expenditure within the meaning of Schedule 20 to FA 2000, or

  2. b

     qualifying expenditure within the meaning of Schedule 13 to FA 2002.