Corporation Tax Act 2009 section 1217KD

No claim if company in administration or liquidation

Section 1217KD prevents a theatre production company from claiming either the additional deduction or the theatre tax credit while the company is in administration or liquidation.

• A company cannot claim the additional deduction for theatre production expenditure or the theatre tax credit at any time when it is in administration or liquidation.
• A company is treated as being in administration if it is in administration under Part 2 of the Insolvency Act 1986 or Part 3 of the Insolvency (Northern Ireland) Order 1989.
• A company is treated as being in liquidation if it meets the definition of liquidation under section 247 of the Insolvency Act 1986 or Article 6 of the Insolvency (Northern Ireland) Order 1989.
• The restriction also applies where a corresponding situation to administration or liquidation exists under the law of a country or territory outside the United Kingdom.