{
  "url": "https://openlegislation.uk/finance-act-2023/section-4",
  "json_url": "https://openlegislation.uk/finance-act-2023/section-4.json",
  "legislation": "ukpga/2023/1",
  "legislation_title": "Finance Act 2023",
  "legislation_url": "https://openlegislation.uk/finance-act-2023",
  "path": "section/4",
  "kind": "section",
  "number": "4",
  "heading": "Amount of relief for expenditure on research and development",
  "text": "(1) The Corporation Tax Act 2009 is amended as follows.\n(2) In Chapter 6A of Part 3 (trade profits: R&D expenditure credits), in section 104M (amount of R&D expenditure credit), in subsection (3), for “13%” substitute “20%”.\n(3) In Chapter 2 of Part 13 (relief for SMEs: cost of R&D incurred by SME)—\n(a) in section 1044 (additional deduction in calculating profits of trade), in subsection (8), for “130%” substitute “86%”,\n(b) in section 1045 (alternative treatment for pre-trading expenditure: deemed trading loss), in subsection (7), for “230%” substitute “186%”,\n(c) in section 1055 (tax credit: meaning of “Chapter 2 surrenderable loss”), in subsection (2)(b), for “230%” substitute “186%”, and\n(d) in section 1058 (amount of tax credit), in subsection (1)(a), for “14.5%” substitute “10%”.\n(4) The amendments made by this section have effect in relation to expenditure incurred on or after 1 April 2023.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2023/1/section/4",
    "retrieved_at": "2026-10-28T16:58:15.533826+00:00",
    "licence": "OGL-UK-3.0",
    "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."
  }
}