Income Tax (Trading and Other Income) Act 2005 section 14

Visiting performers: supplementary

Section 14 sets out the regulation-making powers needed to support the operation of the visiting performers rules in section 13, covering expense deductions, profit apportionment, loss relief and general implementation.

• Regulations may allow deductions for expenses incurred by other persons in relation to payments or transfers treated as the performer's profits, and may disapply income tax liabilities that would otherwise arise for other parties in respect of those amounts.
• Regulations may apportion profits between different trades, professions or vocations of the performer, allocate profits across different tax years, and allow losses from one trade to be set against profits of another.
• References to a performer's trade, profession or vocation include both the separate deemed trade created by section 13 and any other trade, profession or vocation the performer carries on.
• Regulations may make general provision for giving effect to section 13 and may make different provision for different types of case.