Corporation Tax Act 2009 section 1217RE

Amount of additional deduction

Section 1217RE sets out how to calculate the amount of the additional deduction a company can claim in respect of its qualifying expenditure on orchestral concert production.

• The additional deduction is the lower of UK expenditure incurred to date or 80% of total qualifying expenditure incurred to date
• In the first period of account, the full amount of the additional deduction (E) is available
• In subsequent periods, the additional deduction is reduced by the total of any additional deductions already claimed in earlier periods (E minus P)
• The Treasury has the power to change the 80% cap by regulations