VCM20025 - Enterprise investment scheme (EIS): General: Research and development

ICTA/S312 (1); ITA/S1006

In relation to shares issued before 6 April 2000, research and development is defined, in accordance with Section 312(1), as any activity that is intended to result in a patentable invention or in a computer program.

In relation to shares issued on or after 6 April 2000, research and development is defined in accordance with ITA/S1006. For guidance see TS103/2000 (under “Guidance affected”).