C1F1PART 15DOrchestra tax relief
Pt. 15D modified (with application in accordance with s. 19(1)(4) of the amending Act) by Finance Act 2022 (c. 3), s. 19(1)(4)
C1CHAPTER 3Orchestra tax relief
Orchestra tax credits
1217RGC1Orchestra tax credit claimable if company has surrenderable loss
1
A company which qualifies for orchestra tax relief in relation to the production of a concert or concert series may claim an orchestra tax credit in relation to the production for an accounting period in which the company has a surrenderable loss.
2
Section 1217RH sets out how to calculate the amount of any surrenderable loss that the company has in the accounting period.
3
A company making a claim may surrender the whole or part of its surrenderable loss in the accounting period.
C24
The amount of the orchestra tax credit to which a company making a claim is entitled for the accounting period is 25% of the amount of the loss surrendered.
5
The company's available loss for the accounting period (see section 1217RH(2)) is reduced by the amount surrendered.
Pt. 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