Corporation Tax Act 2009 section 1217R

Orchestra tax relief

Section 1217R introduces the two forms of orchestra tax relief available to qualifying orchestral concert production companies.

• Orchestra tax relief is delivered through two mechanisms: additional deductions from taxable profits and orchestra tax credits
• Additional deductions allow qualifying companies to reduce their taxable income by claiming an enhanced deduction for qualifying expenditure
• Orchestra tax credits provide a payable credit that can be claimed where a company has a surrenderable loss from its orchestral concert production activities
• Claims for orchestra tax relief must follow the procedural rules set out in Schedule 18 to the Finance Act 1998