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
Modifications etc. (not altering text)
C1Pt. 15D modified (with application in accordance with s. 19(1)(4) of the amending Act) by Finance Act 2022 (c. 3), s. 19(1)(4)
(1)References in this Chapter to the costs of a production of a concert or concert series are to expenditure incurred by the company on—
(a)activities involved in developing and putting on the concert or concert series, or
(b)activities with a view to exploiting the concert or concert series.
(2)This is subject to any provision of the Corporation Tax Acts prohibiting the making of a deduction, or restricting the extent to which a deduction is allowed, in calculating the profits of a trade.
(3)Expenditure which, apart from this subsection, would be regarded as being of a capital nature only because it is incurred on the creation of an asset (the concert or concert series) is treated as being of a revenue nature. [F2(As to other capital expenditure, see section 53 and subsection (2).)]]
Textual Amendments
F2Words in s. 1217QD(3) inserted (22.2.2024) by Finance Act 2024 (c. 3), Sch. 4 para. 4