[F11217RBThe [F2UK] expenditure conditionU.K.
(1)The “[F3UK] expenditure condition” is that at least [F410%] of the core expenditure on the production of the concert or concert series incurred by the company is [F3UK] expenditure.
[F5(2)In this Part “UK expenditure” means expenditure on goods or services that are used or consumed in the United Kingdom.]
(3)Any apportionment of expenditure as between [F6expenditure that is and is not UK expenditure] for the purposes of this Part is to be made on a just and reasonable basis.
(4)The Treasury may by regulations—
(a)amend the percentage specified in subsection (1);
(b)amend subsection (2).
(5)See also sections 1217T and 1217TA (which are about the giving of relief provisionally on the basis that the [F7UK] expenditure condition will be met).]
Textual Amendments
F1Pt. 15D inserted (with effect in accordance with Sch. 8 para. 17(1)(a) of the amending Act) by Finance Act 2016 (c. 24), Sch. 8 para. 1
F2Word in s. 1217RB heading substituted (22.2.2024) by Finance Act 2024 (c. 3), Sch. 4 para. 5(1)(a) (with Sch. 4 para. 11)
F3Word in s. 1217RB(1) substituted (22.2.2024) by Finance Act 2024 (c. 3), Sch. 4 para. 5(1)(b)(i) (with Sch. 4 para. 11)
F4Word in s. 1217RB(1) substituted (22.2.2024) by Finance Act 2024 (c. 3), Sch. 4 para. 5(1)(b)(ii) (with Sch. 4 para. 11)
F5S. 1217RB(2) substituted (22.2.2024) by Finance Act 2024 (c. 3), Sch. 4 para. 5(1)(c) (with Sch. 4 para. 11)
F6Words in s. 1217RB(3) substituted (22.2.2024) by Finance Act 2024 (c. 3), Sch. 4 para. 5(1)(d) (with Sch. 4 para. 11)
F7Word in s. 1217RB(5) substituted (22.2.2024) by Finance Act 2024 (c. 3), Sch. 4 para. 5(1)(e) (with Sch. 4 para. 11)