F1PART 8BTrading profits taxable at the Northern Ireland rate

F2CHAPTER 14AOrchestra tax relief

Introductory

357UJIntroduction and interpretation

(1)

This Chapter makes provision about the operation of Part 15D of CTA 2009 (orchestra tax relief) in relation to expenditure incurred by a company in an accounting period in which it is a Northern Ireland company.

(2)

In this Chapter—

(a)

“Northern Ireland expenditure” means expenditure incurred in a trade to the extent that the expenditure forms part of the Northern Ireland profits or Northern Ireland losses of the trade;

(b)

the “separate orchestral trade” has the same meaning as in Part 15D of CTA 2009 (see section 1217Q(6) of that Act);

(c)

“qualifying expenditure” has the same meaning as in Chapter 3 of that Part (see section 1217RF of that Act).

(3)

References in Part 15D of CTA 2009 to “orchestra tax relief” include relief under this Chapter.