# Finance (No. 2) Act 2023, Paragraph 18: Meaning of expenditure incurred on payments

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

(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—
“Expenditure incurred on payments
1139A (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.”

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Source: https://www.legislation.gov.uk/ukpga/2023/30/schedule/1/paragraph/18 (the official version)
Page: https://openlegislation.uk/finance-no-2-act-2023/schedule-1/paragraph-18
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.