SCHEDULES

SCHEDULE 8Tax relief for production of orchestral concerts

PART 2Consequential amendments

CTA 2009

9

In Part 8 of CTA 2009 (intangible fixed assets), in Chapter 10 (excluded assets), after section 808C insert—

808DAssets representing expenditure incurred in course of separate orchestral trade

1

This Part does not apply to an intangible fixed asset held by an orchestral concert production company so far as the asset represents expenditure on an orchestral concert or orchestral concert series that is treated under Part 15D as expenditure of a separate trade (see particularly sections 1217Q and 1217QF).

2

In this section—

  • “orchestral concert” has the same meaning as in Part 15D (see section 1217PA);

  • “orchestral concert production company” means a company which, for the purposes of that Part, is the production company in relation to a concert (see section 1217PB).

10

In section 1310 of CTA 2009 (orders and regulations), in subsection (4), after paragraph (em) insert—

en

section 1217RB (EEA expenditure condition),

eo

section 1217RE (amount of additional deduction),

11

In Schedule 4 to CTA 2009 (index of defined expressions), insert at the appropriate places—

company tax return (in Part 15D)

section 1217U

core expenditure (in Part 15D)

section 1217RC

costs, in relation to a concert or concert series (in Part 15D)

section 1217QD

EEA expenditure (in Part 15D)

section 1217RB(2)

EEA expenditure condition (in Part 15D)

section 1217RB

income, in relation to a concert or concert series (in Part 15D)

section 1217QC

orchestra tax relief (in Part 15D)

section 1217R(1)

orchestral concert (in Part 15D)

section 1217PA

production company (in Part 15D)

section 1217PB

qualifying expenditure (in Part 15D)

section 1217RF

qualifying orchestral concert (in Part 15D)

section 1217RA(3)

qualifying orchestral concert series (in Part 15D)

section 1217RA(5)

separate orchestral trade (in Part 15D)

section 1217Q