Commentary

D7.1295 Orchestra tax relief—provisional entitlement to relief

Corporate tax
Corporate tax | Commentary

D7.1295 Orchestra tax relief—provisional entitlement to relief

Corporate tax | Commentary

D7.1295 Orchestra tax relief—provisional entitlement to relief

A company may be entitled to provisional orchestra tax relief in an 'interim accounting period' (ie a period that precedes the accounting period in which it cases to carry on the separate orchestral trade1). In addition to being able to claim orchestra tax relief, the company will also be able to transfer its terminal losses to another production (see D7.1288).

The rules governing provisional entitlement to relief2 ensure that companies that are entitled to relief can obtain it in the relevant accounting period, without having to wait until the concert is completed. To that end,

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