# Finance Act 2023, Section 2: Reducing the amount of additional investment expenditure

Extent: E+W+S+N.I.

(1) In section 2 of the Energy (Oil and Gas) Profits Levy Act 2022 (additional expenditure treated as incurred for purposes of section 1 of that Act), in subsection (3), for “80%” substitute “29%”.
(2) The amendment made by subsection (1) has effect in relation to expenditure incurred on or after 1 January 2023 (and section 7 of that Act applies for the purposes of this section as it applies for the purposes of that Act).

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Source: https://www.legislation.gov.uk/ukpga/2023/1/section/2 (the official version)
Page: https://openlegislation.uk/finance-act-2023/section-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.