Schedule 12 - Tax relief for expenditure on research and development

Part of Finance Bill – in a Public Bill Committee at 6:00 pm on 21st May 2002.

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Photo of Michael Jack Michael Jack Conservative, Fylde 6:00 pm, 21st May 2002

I am following the Paymaster General's argument carefully. Will she say what would happen if a large company took over an SME, whose R and D activity it found to be especially attractive, thereby giving the smaller company the enhanced credit that she mentioned a moment ago? Would the status quo of the smaller company remain, although it had become a wholly owned subsidiary of the larger company?