Corporation Tax Act 2009 section 1217QC

Income from the production

Section 1217QC defines what counts as income from a concert or concert series production for the purposes of calculating the profits or losses of the separate orchestral trade.

• Income covers all receipts by the company connected with producing or exploiting a concert or concert series
• Specific examples include ticket sales, sales of rights in the concert or series, royalties, and other payments for use of the concert or series
• Payments for merchandise production rights and receipts under profit share agreements also count as income
• Any receipts that would normally be treated as capital in nature are instead treated as revenue for these purposes