Corporation Tax Act 2009

[F11217RBThe [F2UK] expenditure conditionU.K.
This section has no associated Explanatory Notes

(1)The “[F3UK] expenditure condition” is that at least [F410%] of the core expenditure on the production of the concert or concert series incurred by the company is [F3UK] expenditure.

[F5(2)In this Part “UK expenditure” means expenditure on goods or services that are used or consumed in the United Kingdom.]

(3)Any apportionment of expenditure as between [F6expenditure that is and is not UK expenditure] for the purposes of this Part is to be made on a just and reasonable basis.

(4)The Treasury may by regulations—

(a)amend the percentage specified in subsection (1);

(b)amend subsection (2).

(5)See also sections 1217T and 1217TA (which are about the giving of relief provisionally on the basis that the [F7UK] expenditure condition will be met).]

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