Finance Act 2023

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Amendment of Finance Act 2022

7. (1) The Finance Act 2022 is amended—

(a) in section 100(2)—

(i) with effect as on and from 1 March 2023, in paragraph (a)(i), by the substitution of “later than 31 May 2023 (but not later than 31 July 2023)” for “later than 28 February 2023 (but not later than 30 April 2023)”, and

(ii) by the insertion of the following paragraph after paragraph (b):

“(c) An order under paragraph (a)(i) may, if the order so provides, have retrospective effect.”,

and

(b) in section 101—

(i) with effect as on and from 1 March 2023, in subsection (1), in the definition of “specified period”, by the substitution of “31 May 2023” for “28 February 2023”,

(ii) with effect as on and from 1 September 2022, in subsection (5)—

(I) in paragraph (b), by the substitution of “30 per cent” for “50 per cent”, and

(II) in paragraph (c), by the substitution of “30 per cent” for “50 per cent”,

(iii) with effect as on and from 1 March 2023, by the substitution of the following subsection for subsection (7):

“(7) Subject to subsection (9), on making a claim under this section, a qualifying business shall, in respect of a relevant electricity bill or a relevant gas bill, as the case may be, be entitled—

(a) to an amount equal to 40 per cent of the eligible cost as determined in accordance with paragraph (c) or (d) of subsection (6), in respect of claim periods falling within the period beginning on 1 September 2022 and ending on 28 February 2023, and

(b) to an amount equal to 50 per cent of the eligible cost as determined in accordance with paragraph (c) or (d) of subsection (6), in respect of claim periods falling within the period beginning on 1 March 2023 and ending at the end of the specified period,

and any amount payable under this section is referred to in this section as a ‘temporary business energy payment’.”,

(iv) with effect as on and from 1 September 2022, by the substitution of the following subsection for subsection (10):

“(10) A claim made under this section in respect of a temporary business energy payment shall be made no later than 2 months from the end of the specified period.”,

and

(v) with effect as on and from 1 March 2023, in subsection (30)(a), by the substitution of “31 May 2023” for “28 February 2023”.

(2) The Finance Act 2022 (Temporary Business Energy Support Scheme) (Specified Period) Order 2023 ( S.I. No. 75 of 2023 ) shall be deemed to have been revoked with effect as on and from 1 March 2023.

(3) This section shall come into operation on such day or days as the Minister for Finance may by order or orders appoint either generally or with reference to any particular purpose or provision and different days may be so appointed for different purposes or different provisions.