Corporation Tax Act 2009 section 1218ZCLA

No claim if company in administration or liquidation

Section 1218ZCLA prevents a company from claiming museums and galleries exhibition tax relief — whether as an additional deduction or as a payable tax credit — at any time when the company is in administration or liquidation.

• A company cannot claim either the additional deduction or the museums and galleries exhibition tax credit while it is in administration or liquidation.
• Administration covers formal administration under UK insolvency legislation (the Insolvency Act 1986 or the corresponding Northern Ireland Order) or any equivalent procedure under the law of a jurisdiction outside the United Kingdom.
• Liquidation covers liquidation as defined under the same UK insolvency legislation or any equivalent procedure under the law of a jurisdiction outside the United Kingdom.
• The restriction applies equally to UK companies and to those subject to comparable insolvency proceedings overseas.