Corporation Tax Act 2009 section 1217OB

Index

Section 1217OB provides a glossary of key terms used throughout Part 15C of the Act, which deals with the tax relief regime for theatrical productions.

• The section defines essential terms such as "theatrical production", "production company", "core expenditure", "qualifying expenditure" and "costs" of a theatrical production
• It explains where to find the meaning of conditions that must be met, including the "commercial purpose condition" and the "UK expenditure condition"
• It clarifies how references to "income from a theatrical production" and the "separate theatrical trade" should be interpreted
• It also defines "UK expenditure", "company tax return" and other terms relevant to claiming theatrical production tax relief