(1)In this Part “core expenditure”, in relation to the production of a concert or concert series, means expenditure on the activities involved in producing the concert or concert series.
(2)The reference in subsection (1) to “expenditure on the activities involved in producing the concert or concert series” includes expenditure on travel to and from a venue which is not a usual venue for concerts produced by the company.
(3)But that reference does not include—
(a)expenditure on any matters not directly involved with putting on the concert or concerts (for instance, financing, marketing, legal services or storage),
(b)speculative expenditure on activities not involved with putting on the concert or concerts, and
(c)expenditure on the actual performance or performances (for instance, payments to musicians for their performances in the concert or concert series).]
Textual Amendments
F1Pt. 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
