Section 1217RC — Corporation Tax Act 2009: “Core expenditure”

“Core expenditure” 1217RC 1 In this Part “ core expenditure ”, in relation to the production of a concert or concert series, means expenditure on the activities involved in producing the concert or concert series.

2 The reference in subsection (1) to “ expenditure on the activities involved in producing the concert or concert series ” includes expenditure on travel to and from a venue which is not a usual venue for concerts produced by the company.

3 But that reference does not include—

a expenditure on any matters not directly involved with putting on the concert or concerts (for instance, financing, marketing, legal services , storage, or the provision of incidental goods or services to members of the audience ),

b speculative expenditure on activities not involved with putting on the concert or concerts, and c expenditure on the actual performance or performances (for instance, payments to musicians for their performances in the concert or concert series).

4 For the purposes of subsection (3)(a), expenditure by an educational body on teaching or training participants in a concert or concerts is expenditure on a matter not directly involved with putting on the concert or concerts, except to the extent that the teaching or training takes place as part of a rehearsal for the concert or concerts.

5 In this section, “ educational body ” includes a body mentioned in section 71.