Section 1218ZE Provisional entitlement to reliefF1
In relation to a company and the production of an exhibition, “interim accounting period” means any accounting period that—
is one in which the company carries on the separate exhibition trade, and
precedes the accounting period in which it ceases to do so.
A company is not entitled to museums and galleries exhibition 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 exhibition that is F2UK expenditure (see section 1218ZCC(2)), and
that amount is such as to indicate that the UK expenditure condition (see section 1218ZCC) will be met.
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. 15E inserted (for specified purposes and with effect in accordance with Sch. 6 paras. 20, 21(1)(a) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 6 para. 1 (with Sch. 6 para. 21(3))
- F2
Word in s. 1218ZE(2) substituted (22.2.2024) by Finance Act 2024 (c. 3), Sch. 5 para. 4(2)(b) (with Sch. 5 para. 10)
Notes on Part 15E
Modifications
- C1
Pt. 15E modified by 2010 c. 4, s. 357UR(3) (as inserted (with effect in accordance with Sch. 6 para. 20 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 6 para. 17)
- C2
Pt. 15E modified (temp.) (with application in accordance with s. 21(1)(4) of the amending Act) by Finance Act 2022 (c. 3), s. 21(1)(4)