Part 3 Amendments to Schedule 18 to FA 1998
Finance (No 2) Act 2023 (2023 c 30) | Legislation

Part 3 Amendments to Schedule 18 to FA 1998

Introduction

10

Schedule 18 to FA 1998 (company tax returns, assessments and related matters) is amended as follows.

Power of HMRC to collect overpaid R&D tax relief or expenditure credit

11

In paragraph 52 (recovery of excessive repayments etc)—

(a)     in sub-paragraph (2) omit paragraphs (bza) and (ba);

(b)     for sub-paragraph (2A) substitute—

“(2A)     The provisions of paragraphs 41 and 45 to 48 relating to discovery assessments apply to an amount paid to a company by way of—

(a)     first-year tax credit under Schedule A1 to the Capital Allowances Act;

(b)     R&D expenditure credit under Chapter 6A of Part 3 of the Corporation Tax Act 2009;

(c)     R&D tax credit under Chapter 2 or 7 of Part 13 of that Act,

but only to the extent that the company was not, or is no longer, entitled to the credit.â€

Time limits for R&D claims

12

For paragraph 83E (time limit for claims) substitute—

“83·¡

(1)     Except where sub-paragraph (3) applies, a claim to which this Part of this Schedule applies may be made, amended or withdrawn at any time up to the last day of the period

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