Corporation Tax Act 2010 section 357U

Introduction and interpretation

Section 357U introduces Chapter 14, which explains how the corporation tax rules for theatrical productions apply to Northern Ireland companies.

• Chapter 14 governs how the theatrical productions tax regime (Part 15C of CTA 2009) operates for companies that qualify as Northern Ireland companies.
• "Northern Ireland expenditure" means trade expenditure that forms part of the Northern Ireland profits or Northern Ireland losses of the trade.
• "The separate theatrical trade" and "qualifying expenditure" take their meanings from Part 15C of CTA 2009, which contains the main theatrical productions tax relief rules.
• The provisions apply to expenditure incurred in any accounting period during which the company is a Northern Ireland company.