Corporation Tax Act 2009 section 1218ZFA

Interpretation

Section 1218ZFA provides definitions for the key terms used throughout Part 15E of the Corporation Tax Act 2009, which deals with museums and galleries exhibition tax relief.

• This section acts as a glossary for Part 15E, defining the specialised terms used in the museums and galleries exhibition tax relief provisions.
• Key defined terms include "exhibition", "core expenditure", "qualifying expenditure", "UK expenditure", and "UK expenditure condition", each pointing to the specific section where the full definition can be found.
• The section defines the types of company involved in exhibition production — the "primary production company" and the "secondary production company" — as well as the concept of a "touring exhibition".
• Other important definitions cover the "separate exhibition trade" (the notional trade through which the tax relief operates), the "costs" and "income" of an exhibition, and the meaning of "company tax return" and "museums and galleries exhibition tax relief" itself.