Corporation Tax Act 2009 section 1217QD

Costs of production

Section 1217QD defines what counts as the costs of producing a concert or concert series for the purposes of calculating the profits or losses of the separate orchestral trade.

• Production costs include all expenditure on developing, putting on, and exploiting a concert or concert series
• These costs are subject to any existing Corporation Tax Acts restrictions on allowable deductions when calculating trade profits
• Expenditure on creating the concert or concert series is treated as revenue rather than capital in nature
• Other capital expenditure remains subject to the normal Corporation Tax rules on capital deductions