Corporation Tax Act 2009 section 1218ZBC

Costs of the production

Section 1218ZBC defines what counts as the costs of producing an exhibition for the purposes of the exhibition tax relief rules, and notes that general corporation tax restrictions on deductions still apply.

• Production costs cover all expenditure on developing, producing, running, deinstalling and closing an exhibition
• Costs also include expenditure on activities aimed at exploiting the exhibition commercially
• These costs must be incurred by the company claiming the relief
• Any general corporation tax rules that prohibit or restrict deductions when calculating trade profits continue to apply