Part 1 Amendment of CTA 2009
Finance Act 2016 (2016 c 24) | Legislation

SCHEDULE 8 Tax Relief for Production of Orchestral Concerts

Section 54

Part 1 Amendment of CTA 2009

1

After Part 15C of CTA 2009 insert—

“Part 15D
Orchestra Tax Relief
Chapter 1
Introduction
Overview
1217±ÊÌý°¿±¹±ð°ù±¹¾±±ð·É

(1)     This Part is about the production of orchestral concerts, and applies for corporation tax purposes.

(2)     This Chapter explains what is meant by “orchestral concert†and how a company comes to be treated as the production company in relation to a concert.

(3)     Chapter 2 is about the taxation of the activities of a production company and includes—

(a)     provision for the company's activities in relation to its concert, or its concert series, to be treated as a separate trade, and

(b)     provision about the calculation of the profits and losses of that trade.

(4)     Chapter 3 is about relief (called “orchestra tax reliefâ€) which may be given to a production company in relation to its concert or concert series—

(a)     by way of additional deductions to be made in calculating the profits or losses of the company's separate trade, or

(b)     by way of a payment (an “orchestra tax creditâ€) to be made on the company's surrender of losses from

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