Contents
- 1 Citation and Commencement
- 1A Expressions used in these Regulations, unless otherwise provided, have the...
- 2 Additional information to be provided in relation to creative industry claims
- 3 Amendment of the Income and Corporation Taxes (Electronic Communications) Regulations 2003
- Schedule Additional information to be provided in relation to creative claims
1Citation and Commencement#
These Regulations may be cited as the Relief for Creative Industries (Additional Information Requirements and Miscellaneous Amendments) Regulations 2024 and come into force on 1st April 2024.
1A#
Expressions used in these Regulations, unless otherwise provided, have the same meaning as in Parts 14A to 15E of the Corporation Tax Act 2009.
2Additional information to be provided in relation to creative industry claims#
(1)A claim under Parts 14A-15E of the Corporation Tax Act 2009 is invalid unless the information specified in Table 1 of the Schedule (Required information relating to all creative sector relief claims) is provided to an officer of Revenue and Customs not later than the date on which the claim is made or amended by the company in accordance with paragraph 83W of Schedule 18 of the Finance Act 1998;
(2)Where a claim under Parts 14A, 15C, 15D or 15E of the Corporation Tax Act 2009 includes “connected party expenditure”, paragraph (3) applies unless the information specified in Table 2 of the Schedule (Required information relating to connected party transactions) is provided to an officer of Revenue and Customs not later than the date specified in paragraph (1).
(3)Where this paragraph applies, total qualifying expenditure is to be reduced by the amount of connected party expenditure arising from any transaction that is partly or wholly undisclosed.
(4)In these regulations—
(a)“connected party expenditure” means the amount of total qualifying expenditure which represents a payment made to a person who is connected with the company within the meaning of section 1316 of the Corporation Tax Act 2009; note...
(aa)“tax adviser” means a person appointed to give advice about the tax affairs of another person (whether appointed directly by that person or by another tax adviser of that person);
(b)“total qualifying expenditure” has the same meaning as “relevant global expenditure” in Step 1 of section 1179CA, Part 14A of the Corporation Tax Act 2009 in relation to Audio-Visual Expenditure Credit and Video Games Expenditure Credit, section 1217JA, Part 15C of the Corporation Tax Act 2009 for Theatre Tax Relief, section 1217RF, Part 15D of the Corporation Tax Act 2009 for Orchestra Tax Relief and section 1218ZCG, Part 15E of the Corporation Tax Act 2009 for Museums and Galleries Exhibition Tax Relief ; and
(c)“visual effects vendor” means any person who provides relevant visual effects work to the company.
3Amendment of the Income and Corporation Taxes (Electronic Communications) Regulations 2003#
(1)The Income and Corporation Taxes (Electronic Communications) Regulations 2003 are amended as follows
(2)In regulation 2 (scope of these Regulations)—
(a)after paragraph (1) (a) (viii), omit “or”;
(b)after paragraph (1) (a) (ix), substitute “and” for “or;” and
(c)after paragraph (1) (a) (ix), insert—“x paragraph 83WA(1) of Schedule 18 to the Finance Act 1998; and”
(3)In regulation 3 (use of electronic communication), in paragraph (2A)—
(a)after “paragraph 83EA”, insert “, or paragraph 83WA”; and
(b)after the third sentence insert –“• This paragraph also applies to an amendment made on or after 1 April 2024, where the company tax return includes a claim within Parts 14A to 15E of the Corporation Tax Act 2009”
Schedule · Additional information to be provided in relation to creative claims
(1)A claim to which Part 9D of Schedule 18 to the Finance Act 1998 (claims for tax relief under Parts 14A to 15E of the Corporation Tax Act 2009) applies must include the information specified in Table 1 in respect of—
(2)the company officer responsible for ensuring the accuracy of the information provided under this Schedule;
(3)any agent or tax adviser engaged by the company, or which has provided services to the company, in any capacity in relation to the claim;
(4)the claim; and
(5)information relating to individual productions where—
(a)for the purpose of a claim under Parts 14A to 15B of the Corporation Tax Act 2009, “production” has the same meaning as in section 1179AA of the Corporation Tax Act 2009, and
(b)for the purpose of a claim under Parts 15C to 15E of the Corporation Tax Act 2009—
(i)“production” means theatrical production, orchestral concert or exhibition, and
(ii)“the highest value productions” means—
(aa)where a claim relates to 11 or more productions, the 10 productions within the claim for which the largest amounts of additional deduction are claimed, or
(bb)where a claim relates to 10 or fewer productions, each of the productions.
(2)A claim under Part 14A, 15C, 15D or 15E of the Corporation Tax Act 2009 which includes “connected party expenditure” must, in addition to the information specified in Table 1 (required information relating to all creative claims under Parts 14A to 15E of the Corporation Tax Act 2009), also include the information specified in Table 2 (required information relating to connected party transactions).
Contains public sector information licensed under the Open Government Licence v3.0.