Finance (No. 2) Act 2023 (c. 30)

Schedules

Schedule 1 U.K. Relief for research and development

Part 4 U.K. Miscellaneous amendments

Meaning of expenditure incurred on payments U.K.

18 (1) In section 104Y (R&D expenditure credits: interpretation), at the end insert—

“(4) References in this Chapter to expenditure incurred on payments (however expressed) are references to expenditure incurred on payments made before the making of a claim under this Chapter in relation to that expenditure.”

(2) Before section 1140 insert—

“1139A Expenditure incurred on payments

(1) References in this Part to expenditure incurred on payments (however expressed) are references to expenditure incurred on payments made before the making of a claim under this Part in relation to that expenditure.”