The Relief for Creative Industries (Additional Information Requirements and Miscellaneous Amendments) Regulations 2024
S.I. 2024/320 · Made 5 March 2024 · Extends to United Kingdom
Corporation Tax
Made
5th March 2024Laid before the House of Commons
8th March 2024Coming into force
1st April 2024The Commissioners for His Majesty’s Revenue and Customs make the following Regulations in exercise of the powers conferred by paragraph 83WA of Schedule 18 to the Finance Act 1998f1, section 132 of the Finance Act 1999f2, section 135 and 136 of the Finance Act 2002f3 and now exercisable by themf4.
Annotations to the whole text
Footnotes
- f1
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1998 c. 36; Schedule 18, paragraph 83WA was inserted by paragraph 3 of Schedule 6 to the Finance Act 2024, section 7.
- f2
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1999 c. 16; section 132 (1) was amended by section 411 (2) of, and paragraph 156 of Schedule 17 to, the Communications Act 2003 (c. 21), S.I. 2003/1900 and 2003/3142.
- f3
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2002 c. 23; section 135 of the Finance Act 2002 was amended by section 53 (1) of, and paragraph 95 (1) of Schedule 4 to, the Commissioners for Revenue and Customs Act 2005 (c. 11), section 93 of the Finance Act 2007 (c. 11) and article 2 (2) (h) of S.I. 2005/1126.
- f4
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By virtue of section 5 (2) of the Commissioners for Revenue and Customs Act 2005 functions previously exercisable by the Commissioners of Inland Revenue are now exercisable by the Commissioners for His Majesty’s Revenue and Customs.
Contents
- 1Citation and Commencement
- 1ARegulation 1A
- 2Additional information to be provided in relation to creative industry claims
- 3Amendment of the Income and Corporation Taxes (Electronic Communications) Regulations 2003
- Signature
- Schedule: Additional information to be provided in relation to creative claims
- 1Paragraph 1
- 2Paragraph 2
- Explanatory note
1Citation and CommencementI1
These Regulations may be cited as the Relief for Creative Industries (Additional Information Requirements and Miscellaneous Amendments) Regulations 2024 and come into force on 1st April 2024.
1A
F1Expressions used in these Regulations, unless otherwise provided, have the same meaning as in Parts 14A to 15E of the Corporation Tax Act 2009.
2Additional information to be provided in relation to creative industry claimsI1
A claim under Parts 14A-15E of the Corporation Tax Act 2009f1 is invalid unless the information specified in Table 1 of the Schedule (Required information relating to all creative sector relief claims) is provided to an officer of Revenue and Customs not later than the date on which the claim is made or amended by the company in accordance with paragraph 83W of Schedule 18 of the Finance Act 1998;
Where a claim under Parts 14A, 15C, 15D or 15E of the Corporation Tax Act 2009 includes “connected party expenditure”, paragraph (3) applies unless the information specified in Table 2 of the Schedule (Required information relating to connected party transactions) is provided to an officer of Revenue and Customs not later than the date specified in paragraph (1).
Where this paragraph applies, total qualifying expenditure is to be reduced by the amount of connected party expenditure arising from any transaction that is partly or wholly undisclosed.
In these regulations—
“connected party expenditure” means the amount of total qualifying expenditure which represents a payment made to a person who is connected with the company within the meaning of section 1316 of the Corporation Tax Act 2009; F1...
F2“tax adviser” means a person appointed to give advice about the tax affairs of another person (whether appointed directly by that person or by another tax adviser of that person);
“total qualifying expenditure” has the same meaning as “relevant global expenditure” in Step 1 of F3section 1179CA, Part 14A of the Corporation Tax Act 2009 in relation to Audio-Visual Expenditure Credit and Video Games Expenditure Credit, section 1217JA, Part 15C of the Corporation Tax Act 2009 for Theatre Tax Relief, section 1217RF, Part 15D of the Corporation Tax Act 2009 for Orchestra Tax Relief and section 1218ZCG, Part 15E of the Corporation Tax Act 2009 for Museums and Galleries Exhibition Tax Relief F4; and
“visual effects vendor” means any person who provides relevant visual effects work to the company.
3Amendment of the Income and Corporation Taxes (Electronic Communications) Regulations 2003I1
The Income and Corporation Taxes (Electronic Communications) Regulations 2003f1 are amended as follows
In regulation 2 (scope of these Regulations)—
after paragraph (1) (a) (viii), omit “or”;
after paragraph (1) (a) (ix), substitute “and” for “or;” and
after paragraph (1) (a) (ix), insert—
(x)paragraph 83WA(1) of Schedule 18 to the Finance Act 1998; and
In regulation 3 (use of electronic communication), in paragraph (2A)—
after “paragraph 83EA”, insert “, or paragraph 83WA”; and
after the third sentence insert –
.
This paragraph also applies to an amendment made on or after 1 April 2024, where the company tax return includes a claim within Parts 14A to 15E of the Corporation Tax Act 2009
Signature
1
A claim to which Part 9D of Schedule 18 to the Finance Act 1998 (claims for tax relief under Parts 14A to 15E of the Corporation Tax Act 2009) applies must include the information specified in Table 1 in respect of—
the company (“company” has the same meaning as section 1121 of the Corporation Tax Act 2010);
the company officer responsible for ensuring the accuracy of the information provided under this Schedule;
any agent or tax adviser engaged by the company, or which has provided services to the company, in any capacity in relation to the claim;
the claim; and
F1information relating to individual productions where—
for the purpose of a claim under Parts 14A to 15B of the Corporation Tax Act 2009, “production” has the same meaning as in section 1179AA of the Corporation Tax Act 2009, and
for the purpose of a claim under Parts 15C to 15E of the Corporation Tax Act 2009—
“production” means theatrical production, orchestral concert or exhibition, and
“the highest value productions” means—
where a claim relates to 11 or more productions, the 10 productions within the claim for which the largest amounts of additional deduction are claimed, or
where a claim relates to 10 or fewer productions, each of the productions.
2
F1A claim under Part 14A, 15C, 15D or 15E of the Corporation Tax Act 2009 which includes “connected party expenditure” must, in addition to the information specified in Table 1 (required information relating to all creative claims under Parts 14A to 15E of the Corporation Tax Act 2009), also include the information specified in Table 2 (required information relating to connected party transactions).
Explanatory note
(This note is not part of the Regulations)
These Regulations amend the Income and Corporation Taxes (Electronic Communications) Regulations 2003 (S.I. 2003/282) (“the 2003 Regulations”) to require claims for the creative sector tax reliefs to be submitted electronically. These regulations also specify the additional information required to be provided by claimant companies in support of any claims for the creative sector tax reliefs.
Part 9D of Schedule 18 to the Finance Act 1998 deals with claims for the creative sector tax reliefs, which are set out in Parts 14A to 15E of the Corporation Tax Act 2009.
Paragraph 83WA of Schedule 18 to the Finance Act 1998 provides that regulations may specify the information to be provided by the claimant company, the form and the manner in which, and the time by which, that information is to be provided, and the consequences of failing to provide that information. Regulation 2 (1) specifies the information that is required to make a claim for the creative sector tax reliefs, the time by which that information should be provided and the consequences of a failure to provide that information. Regulations 2(2) to 2(4) concerns the additional information that is required to be disclosed where a claim relates to connected party transactions, the time by which that information should be provided and the consequences of a failure to provide that information.
Regulation 3 amends the 2003 Regulations so that the additional information to be provided under paragraph 83WA(1) of Schedule 18 to the Finance Act 1998 and amended returns that relate to a creative sector relief claim must be delivered electronically.