Corporation Tax Act 2009 section 1217QA

Election for concert series

Section 1217QA sets out how a production company can elect to treat a series of orchestral concerts as a single separate trade for corporation tax purposes, including the timing requirements and consequences of making such an election.

• A production company may elect in writing to HMRC to treat a concert series as a separate orchestral trade, and this election is irrevocable once made
• The election must be submitted before the earlier of either the first company tax return covering a concert in the series or the date of the first concert in the series
• The election must list the orchestral concerts it covers and identify which concerts, if any, are not to be treated as qualifying orchestral concerts
• Where a concert series election is made, the separate trade is treated as beginning at the start of the pre-performance stage of the first concert, or when the company first receives income from the series, whichever is earlier