# Corporation Tax Act 2009, Section 1217IC: Costs of the production


(1) References in this Part to the costs of a theatrical production are to expenditure incurred by the company on—
(a) the activities involved in developing, producing, running and closing the production, or
(b) activities with a view to exploiting the production.
(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 (i.e. the theatrical production) is treated as being of a revenue nature. (As to other capital expenditure, see section 53 and subsection (2).)

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Source: https://www.legislation.gov.uk/ukpga/2009/4/section/1217IC (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2009/section-1217IC
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.