Part 1 Amendments of Part 15D of CTA 2009
Finance Act 2024 (2024 c 3) | Legislation

SCHEDULE 4 Orchestral Concerts

Section 5

Part 1 Amendments of Part 15D of CTA 2009

Introduction

1

Part 15D of CTA 2009 (orchestra tax relief) is amended as follows.

Time of election for orchestral concerts to be treated as a series

2

(1)     In section 1217QA (election for orchestral concerts to be treated as a series), in subsection (1), after “Customs†insert “—

(a)     before the date on which the company first delivers a company tax return for a period in relation to which a concert in the series falls to be treated in accordance with section 1217Q, or

(b)     if later,â€.

(2)     That amendment has effect in relation to a series of concerts the first concert in which takes place on or after 1 April 2024.

Meaning of “core expenditureâ€

3

(1)     In section 1217RC(3) (expenditure that is not “core expenditure†on orchestral concert), in paragraph (a), for “or storage†substitute “, storage, or the provision of incidental goods or services to members of the audienceâ€.

(2)     That amendment has effect in relation to expenditure incurred on or after 1 April 2024.

Provision to emphasise that capital expenditure does not generally qualify for relief

4

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