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.


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


12 Short title

Small acorn
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