Part 2 Changes from European to UK Expenditure: Transitional Provision
Finance Act 2024 (2024 c 3) | Legislation

Part 2 Changes from European to UK Expenditure: Transitional Provision

Transitional provision in relation to paragraph 5

11

(1)     This paragraph makes transitional provision in connection with paragraph 5.

(2)     The amendments made by that paragraph do not apply in relation to a theatrical production if—

(a)     it has entered production before 1 April 2024, and

(b)     the separate theatrical trade in respect of it ceases before 1 April 2025.

(3)     Sub-paragraph (4) applies if—

(a)     a theatrical production has entered production before 1 April 2024,

(b)     the separate theatrical trade in respect of the production continues on or after 1 April 2025,

(c)     the production company's company tax return for the first accounting period that ends on or after 1 April 2025 is accompanied by a statement of the amount of the core expenditure on the theatrical production incurred before 1 April 2025 that is European expenditure, and

(d)     that statement shows that, in respect of core expenditure incurred before 1 April 2025, the European expenditure

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