Schedules
Schedule 6Administration of creative sector reliefs
1Power to recover overpayments
1
Paragraph 52 of Schedule 18 to FA 1998 (recovery of excessive payments) is amended as follows.
2
In sub-paragraph (1), in the words before paragraph (a), for “paragraph” substitute “sub-paragraph”
.
3
In sub-paragraph (2)—
a
for “This paragraph” substitute “Sub-paragraph (1)”
;
b
omit paragraphs (bd) to (bi).
4
In sub-paragraph (2A), after paragraph (c) insert
, or
d
creative sector credit,
5
After sub-paragraph (2A) insert—
2B
In this paragraph, “creative sector credit” means—
a
b
film tax credit under Part 15 of that Act,
c
television tax credit under Part 15A of that Act,
d
video game credit under Part 15B of that Act,
e
theatre tax credit under Part 15C of that Act,
f
orchestra tax credit under Part 15D of that Act, or
g
museums and galleries exhibition credit under Part 15E of that Act.
6
In sub-paragraph (5)—
a
omit paragraphs (ae) and (ag) to (ak);
b
before paragraph (b) insert—
al
an amount of creative sector credit paid to a company for an accounting period, or
c
in the words after paragraph (b), for the words from “the” to the end substitute “that accounting period”
.
7
Those amendments have effect in relation to accounting periods beginning on or after 1 April 2024.