Finance Act 2014 (c. 26)

SCHEDULES

SCHEDULE 4 U.K. Tax relief for theatrical production

PART 2 U.K. Consequential amendments

CTA 2009 U.K.

9 U.K. In section 104BA of CTA 2009 (R&D expenditure credits: restrictions on claiming other tax reliefs), after subsection (3) insert—

“(4) For provision prohibiting an R&D expenditure credit being given under this Chapter and relief being given under section 1217H or 1217K (theatrical productions: additional deduction or theatre tax credit), see section 1217JA(2).”

Commencement Information

I1 Sch. 4 para. 9 in force at 22.8.2014 for the purposes of the amendments made by that paragraph by S.I. 2014/2228, art. 2

10 U.K. In Part 8 of CTA 2009 (intangible fixed assets), in Chapter 10 (excluded assets), before section 809 insert—

“808C Assets representing expenditure incurred in course of separate theatrical trade

(1) This Part does not apply to an intangible fixed asset held by a theatrical production company so far as the asset represents expenditure on a theatrical production that is treated under Part 15C as expenditure of a separate trade (see particularly sections 1217H and 1217IE).

(2) In this section—

• “theatrical production” has the same meaning as in Part 15C (see section 1217FA);

• “theatrical production company” means a company which, for the purposes of that Part, is the production company in relation to a theatrical production (see section 1217FC).”

Commencement Information

I2 Sch. 4 para. 10 in force at 22.8.2014 for the purposes of the amendments made by that paragraph by S.I. 2014/2228, art. 2

11 U.K. In section 1040ZA of CTA 2009 (additional relief for expenditure on research and development), after subsection (3) insert—

“(4) For provision prohibiting relief being given under this Part and under section 1217H or 1217K (theatrical productions: additional deduction or theatre tax credit), see section 1217JA(2).”

Commencement Information

I3 Sch. 4 para. 11 in force at 22.8.2014 for the purposes of the amendments made by that paragraph by S.I. 2014/2228, art. 2

12 U.K. In section 1310 of CTA 2009 (orders and regulations), in subsection (4), after paragraph (ej) insert—

“(ek) section 1217GB(4) (EEA expenditure condition),

(el) section 1217J(4) (amount of additional deduction),

(em) section 1217O (activities involved in developing, producing, running or closing a production),”.

Commencement Information

I4 Sch. 4 para. 12 in force at 22.8.2014 for the purposes of the amendments made by that paragraph by S.I. 2014/2228, art. 2

13 U.K. In Schedule 4 to CTA 2009 (index of defined expressions) at the appropriate place insert—

“commercial purpose condition (in Part 15C)

section 1217OB”;

“company tax return (in Part 15C)

section 1217OA”;

“core expenditure (in Part 15C)

section 1217GC”;

“costs of a theatrical production (in Part 15C)

section 1217IC”;

“EEA expenditure (in Part 15C)

section 1217GB”;

“EEA expenditure condition (in Part 15C)

section 1217OB”;

“income from a theatrical production (in Part 15C)

section 1217IB”;

“production company (in Part 15C)

section 1217FC”;

“qualifying expenditure (in Part 15C)

section 1217JA”;

“the separate theatrical trade (in Part 15C)

section 1217OB”;

“theatrical production (in Part 15C)

section 1217FA”.

Commencement Information

I5 Sch. 4 para. 13 in force at 22.8.2014 for the purposes of the amendments made by that paragraph by S.I. 2014/2228, art. 2