Commentary

D7.1287 Orchestral production companies—calculation of profits and losses

Corporate tax
Corporate tax | Commentary

D7.1287 Orchestral production companies—calculation of profits and losses

Corporate tax | Commentary

D7.1287 Orchestral production companies—calculation of profits and losses

The activities of an orchestral production company are treated as a separate orchestral trade of that company1. The activities are separate from any other activities of the company, including any production activities relating to another concert2. Profits and losses are therefore calculated separately for each orchestral production that the company produces. Where a concert would be eligible for the relief and it forms part of a series of concerts the company may elect that the whole series be treated as one trade3. Such an election is irrevocable and must be made in writing to HMRC before the date of the first concert in the series4

The trade begins on the earlier of the pre–performance stage of the concert and the first receipt of any income from the production of the

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