Corporation Tax Act 2009

[F1 CHAPTER 5 U.K. Provisional entitlement to relief

Textual Amendments

F1 Pt. 15D inserted (with effect in accordance with Sch. 8 para. 17(1)(a) of the amending Act) by Finance Act 2016 (c. 24), Sch. 8 para. 1

1217T Provisional entitlement to relief U.K.

(1) In relation to a company and the production of a concert or concert series, “interim accounting period” means any accounting period that—

(a) is one in which the company carries on a separate orchestral trade, and

(b) precedes the accounting period in which it ceases to do so.

(2) A company is not entitled to orchestra tax relief for an interim accounting period unless—

(a) its company tax return for the period states the amount of planned core expenditure on the production of the concert or concert series that is [F2 UK] expenditure (see section 1217RB(2)), and

(b) that amount is such as to indicate that the [F2 UK] expenditure condition (see section 1217RB) will be met in relation to the production.

If those requirements are met, the company is provisionally treated in relation to that period as if the [F2 UK] expenditure condition were met.

Textual Amendments

F2 Word in s. 1217T(2) substituted (22.2.2024) by Finance Act 2024 (c. 3), Sch. 4 para. 5(2)(b) (with Sch. 4 para. 11)

1217TA Clawback of provisional relief U.K.

(1) If a statement is made under section 1217T(2) but it subsequently appears that the [F3 UK] expenditure condition will not be met on the company's ceasing to carry on the separate orchestral trade, the company—

(a) is not entitled to orchestra tax relief for any period for which its entitlement depended on such a statement, and

(b) must amend accordingly its company tax return for any such period.

(2) When a company ceases to carry on the separate orchestral trade, the company's company tax return for the period in which that cessation occurs must—

(a) state that the company has ceased to carry on the separate orchestral trade, and

(b) be accompanied by a final statement of the amount of the core expenditure on the production of the concert or concert series that is [F4 UK] expenditure.

(3) If that statement shows that the [F5 UK] expenditure condition is not met—

(a) the company is not entitled to orchestra tax relief or to relief under section 1217SC (transfer of terminal losses) for any period, and

(b) must amend accordingly its company tax return for any period for which such relief was claimed.

(4) Any amendment or assessment necessary to give effect to this section may be made despite any limitation on the time within which an amendment or assessment may normally be made.]

Textual Amendments

F3 Word in s. 1217TA(1) substituted (22.2.2024) by Finance Act 2024 (c. 3), Sch. 4 para. 5(2)(c) (with Sch. 4 para. 11)

F4 Word in s. 1217TA(2) substituted (22.2.2024) by Finance Act 2024 (c. 3), Sch. 4 para. 5(2)(c) (with Sch. 4 para. 11)

F5 Word in s. 1217TA(3) substituted (22.2.2024) by Finance Act 2024 (c. 3), Sch. 4 para. 5(2)(c) (with Sch. 4 para. 11)