# Corporation Tax Act 2009, Section 1217RG: Orchestra tax credit claimable if company has surrenderable loss

Extent: E+W+S+N.I.

(1) A company which qualifies for orchestra tax relief in relation to the production of a concert or concert series may claim an orchestra tax credit in relation to the production for an accounting period in which the company has a surrenderable loss.
(2) Section 1217RH sets out how to calculate the amount of any surrenderable loss that the company has in the accounting period.
(3) A company making a claim may surrender the whole or part of its surrenderable loss in the accounting period.
(4) The amount of the orchestra tax credit to which a company making a claim is entitled for the accounting period is 45% of the amount of the loss surrendered.
(5) The company's available loss for the accounting period (see section 1217RH(2)) is reduced by the amount surrendered.

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