
2023 No. 293
Income Tax
Corporation Tax
The Research and Development (Prescribed Activities) Regulations 2023
Made 9th March 2023
Laid before the House of Commons 10th March 2023
Coming into force 31st March 2023
The Treasury make the following Regulations in exercise of the powers conferred by section 1006(3) of the Income Tax Act 2007.
Citation, commencement and effect
1 

(1) These Regulations may be cited as the Research and Development (Prescribed Activities) Regulations 2023 and come into force on 31st March 2023.
(2) Subject to paragraph (3), these Regulations have effect—
(a) for the purposes of corporation tax, in relation to accounting periods beginning after 31st March 2023,
(b) for the purposes of income tax and capital gains tax, in relation to the tax year 2023-24 and subsequent tax years.
(3) These Regulations do not apply in relation to shares or securities issued, or share options granted, unless the share or security was issued, or the share option was granted (as the case may be) after—
(a) 31st March 2023, for the purposes of corporation tax, or
(b) 5th April 2023, for the purposes of income tax and capital gains tax.
Activities prescribed as research and development
2 
For the purposes of section 1006 of the Income Tax Act 2007—
(a) activities treated as research and development in accordance with the “Guidelines on the Meaning of Research and Development for Tax Purposes” issued by the Secretary of State for Business and Trade on 7th March 2023, are treated as research and development, and
(b) activities not treated as such in accordance with those Guidelines are not treated as research and development.
Revocation of the Research and Development (Prescribed Activities) Regulations 2004
3 
The Research and Development (Prescribed Activities) Regulations 2004 are revoked.
Steve Double
Andrew Stephenson
Two of the Lords Commissioners of His Majesty’s Treasury
9th March 2023