{
  "url": "https://openlegislation.uk/energy-oil-and-gas-profits-levy-act-2022/section-7",
  "json_url": "https://openlegislation.uk/energy-oil-and-gas-profits-levy-act-2022/section-7.json",
  "legislation": "ukpga/2022/40",
  "legislation_title": "Energy (Oil and Gas) Profits Levy Act 2022",
  "legislation_url": "https://openlegislation.uk/energy-oil-and-gas-profits-levy-act-2022",
  "path": "section/7",
  "kind": "section",
  "number": "7",
  "heading": "When investment expenditure is incurred",
  "text": "(1) In determining for the purposes of this Act when a company has incurred investment expenditure—\n(a) ... section 5 of CAA 2001 (when capital expenditure is incurred) applies as it applies for the purposes of that Act, and\n(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(2) Any investment expenditure which is (or is treated as) incurred before 26 May 2022 or after 31 March 2030 is to be left out of account in determining a company’s levy profits or loss for any qualifying accounting period.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in s. 7(1)(a) omitted (20.3.2025 with effect in relation to expenditure incurred on or after 1.11.2024) by virtue of Finance Act 2025 (c. 8), s. 16(4)(a)(6)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "S. 7(1)(b) omitted (20.3.2025 with effect in relation to expenditure incurred on or after 1.11.2024) by virtue of Finance Act 2025 (c. 8), s. 16(4)(b)(6)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in s. 7(2) substituted (10.1.2023) by Finance Act 2023 (c. 1), s. 3(2)(a)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Word in s. 7(2) substituted (20.3.2025) by Finance Act 2025 (c. 8), s. 17(2)(a)"
    },
    {
      "type": "I",
      "label": "I1",
      "text": "S. 7 in force at Royal Assent"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2022/40/section/7",
    "retrieved_at": "2026-10-29T08:55:20.413198+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}