Corporation Tax Act 2009

[F1 Additional deductions U.K.

Textual Amendments

F1 Pt. 15A inserted (17.7.2013 for specified purposes, 19.7.2013 in so far as not already in force, and with effect in accordance with Sch. 16 para. 3 of the amending Act) by Finance Act 2013 (c. 29), Sch. 16 paras. 1, 2; S.I. 2013/1817, art. 2(1)

1216CF Additional deduction for qualifying expenditure U.K.

(1) If television tax relief is available to the company, it may (on making a claim) make an additional deduction in respect of qualifying expenditure on the relevant programme.

(2) The deduction is made in calculating the profit or loss of the separate programme trade.

(3) In this Chapter “qualifying expenditure” means core expenditure on the relevant programme that falls to be taken into account under Chapter 2 in calculating the profit or loss of the separate programme trade for tax purposes.

(4) The Treasury may by regulations—

(a) amend subsection (3), and

(b) provide that expenditure of a specified description is or is not to be regarded as qualifying expenditure.

1216CG Amount of additional deduction U.K.

(1) For the first period of account during which the separate programme trade is carried on, the amount of the additional deduction is—

where E is—

a

so much of the qualifying expenditure as is UK expenditure, or

b

if less, 80% of the total amount of qualifying expenditure.

(2) For any period of account after the first, the amount of the additional deduction is given by—

where—

E is—

(a)

so much of the qualifying expenditure incurred to date as is UK expenditure, or

(b)

if less, 80% of the total amount of qualifying expenditure incurred to date, and

P is the total amount of the additional deductions given for previous periods.

(3) The Treasury may by regulations amend this section.]