ANNEX 1:: MINOR CHANGES IN THE LAW MADE BY THE BILL This change has no implications for the amount of tax due, who pays it or when. It affects (in principle but not in practice) only administrative matters.
Change 41: EIS, VCT and share loss relief: research and development (R&D) benefiting qualifying trade of a group company: sections 137, 179, 181, 290 and 300, Schedule 1 (section 576B of ICTA) and Schedule 2Part 6 (the trading requirement) and Part 8 (the trading requirement and meaning of “qualifying trade”)
This change permits R&D that benefits a qualifying trade to meet the requirements in EIS and VCT in prescribed circumstances. The change aligns these schemes more closely with the corporate venturing scheme (CVS).