Section 1217J — Finance Act 2014: Amount of additional deduction

Amount of additional deduction 1217J 1 The amount of an additional deduction to which a company is entitled as a result of a claim under section 1217H is calculated as follows.

2 For the first period of account during which the separate theatrical trade is carried on, the amount of the additional deduction is E, where— E is—

so much of the qualifying expenditure incurred to date as is EEA expenditure, or if less, 80% of the total amount of qualifying expenditure incurred to date.

3 For any period of account after the first, the amount of the additional deduction is— E − P where— E is—

so much of the qualifying expenditure incurred to date as is EEA expenditure, or if less, 80% of the total amount of qualifying expenditure incurred to date, and P is the total amount of the additional deductions given for previous periods.

4 The Treasury may by regulations amend the percentage specified in subsection (2) or (3).