Corporation Tax Act 2009 section 1218ZCJ

Payment in respect of museums and galleries exhibition tax credit

Section 1218ZCJ sets out how a museums and galleries exhibition tax credit is paid to a company, including the conditions that must be met before payment is made and how the credit interacts with other tax liabilities.

• HMRC must pay the tax credit to the company when it is entitled to the credit and makes a claim
• The credit can be set against the company's corporation tax liability, and HMRC may withhold payment during an enquiry into the company's tax return
• No payment is required until the company has paid all PAYE and Class 1 national insurance contributions due for payment periods ending in the relevant accounting period
• The tax credit payment is not treated as income of the company for any tax purpose