SCHEDULES

SCHEDULE 4Tax relief for theatrical production

PART 3Commencement

16

1

Any power to make regulations conferred on the Treasury by virtue of this Schedule comes into force on the day on which this Act is passed.

2

So far as not already brought into force by sub-paragraph (1), the amendments made by this Schedule come into force in accordance with provision contained in an order made by the Treasury.

3

An order under sub-paragraph (2) may make different provision for different purposes.

17

1

The amendments made by this Schedule have effect in relation to accounting periods beginning on or after 1 September 2014.

2

Sub-paragraph (3) applies where a company has an accounting period beginning before 1 September 2014 and ending on or after that date (“the straddling period”).

3

For the purposes of Part 15C of CTA 2009—

a

so much of the straddling period as falls before 1 September 2014, and so much of that period as falls on or after that date, are treated as separate accounting periods, and

b

any amounts brought into account for the purposes of calculating for corporation tax purposes the profits of a trade for the straddling period are apportioned to the two separate accounting periods on such basis as is just and reasonable.