Corporation Tax Act 2009 section 1218ZCD

Core expenditure

Section 1218ZCD defines what qualifies as "core expenditure" for the purposes of museums and galleries exhibition tax relief, setting out both what is included and what is excluded.

• Core expenditure covers the costs of producing, deinstalling and closing an exhibition at each relevant venue, but excludes indirect costs such as marketing, financing and legal services
• Deinstallation and closing costs only qualify if the exhibition runs for 12 months or less at that venue
• Storage costs for exhibits are excluded for single-venue exhibitions; for touring exhibitions, only off-site storage of up to 4 months between venues qualifies
• Purchasing exhibits, running costs once the exhibition opens, live performance costs, speculative development expenditure, and infrastructure costs (unless solely for the exhibition) are all excluded from core expenditure