Section 1217T Provisional entitlement to reliefF1
In relation to a company and the production of a concert or concert series, “interim accounting period” means any accounting period that—
is one in which the company carries on a separate orchestral trade, and
precedes the accounting period in which it ceases to do so.
A company is not entitled to orchestra tax relief for an interim accounting period unless—
its company tax return for the period states the amount of planned core expenditure on the production of the concert or concert series that is F2UK expenditure (see section 1217RB(2)), and
that amount is such as to indicate that the UK expenditure condition (see section 1217RB) will be met in relation to the production.
If those requirements are met, the company is provisionally treated in relation to that period as if the UK expenditure condition were met.
Annotations
Textual amendments
- F1
Pt. 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
- F2
Word in s. 1217T(2) substituted (22.2.2024) by Finance Act 2024 (c. 3), Sch. 4 para. 5(2)(b) (with Sch. 4 para. 11)
Notes on Part 15D
Modifications
- C1
Pt. 15D modified (with application in accordance with s. 19(1)(4) of the amending Act) by Finance Act 2022 (c. 3), s. 19(1)(4)