Clause 52 - Tax relief for expenditure on research and development
Finance Bill
Public Bill Committees, 21 May 2002, 5:45 pm
Mr Michael Jack (Fylde, Conservative)
On a point of clarification, and I apologise if I have missed something, but will the Paymaster-General explain why she is talking in general terms about the operation of the research and development tax credit? For example, the Marconi part of BAE Systems in the United States consolidates its company accounts in the United Kingdom but incurs research and development expenditure of a qualifying nature in the United States. How does that operate in relation to the credit?