Finance Act 2023: Contents
The Finance Act 2023 received Royal Assent on 10 January 2023. This is a summary of its contents.
The act is available here.
CONTENTS
Energy (oil and gas) profits levy
1 Increase in rate of tax
2 Reducing the amount of additional investment expenditure
3 Extending the period for which tax has effect
Corporation tax
4 Amount of relief for expenditure on research and development
Income tax
5 Basic rate limit and personal allowance for tax years 2026-27 and 2027-28
6 Threshold at which additional rate is charged
7 Dividend nil rate
Capital gains tax
8 Annual exempt amount
Inheritance tax
9 Rate bands etc for tax years 2026-27 and 2027-28
Taxation of vehicles
10 Removal of VED exemption for electrically-propelled vehicles etc
11 Taxable benefits: appropriate percentage for cars with a CO2 emissions figure
Final
12 Short title
Turn those acorns into oaks 😂
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