Corporation Tax Act 2009 section 1217N

Provisional entitlement to relief

Section 1217N sets out the conditions under which a theatrical production company can provisionally claim tax relief during interim accounting periods before the production has concluded.

• An interim accounting period is any period during which the company carries on its separate theatrical trade, before the period in which it ceases to do so
• To claim relief in an interim period, the company must state in its tax return the planned amount of core expenditure that qualifies as UK expenditure
• The stated planned UK expenditure must be sufficient to indicate that the UK expenditure condition will ultimately be met for the production
• The relieving provisions covered are the additional deduction, theatre tax credits, and terminal loss relief