Part 2 Changes from European to UK Expenditure: Transitional Provision
Finance Act 2024 (2024 c 3) | Legislation

Part 2 Changes from European to UK Expenditure: Transitional Provision

Transitional provision in relation to paragraph 4

10

(1)     This paragraph makes transitional provision in relation to paragraph 4.

(2)     The amendments made by that paragraph do not have effect in relation to an exhibition if—

(a)     it has entered production before 1 April 2024, and

(b)     the separate exhibition trade in respect of it ceases before 1 April 2025.

(3)     Sub-paragraph (4) applies if—

(a)     an exhibition has entered production before 1 April 2024,

(b)     the separate exhibition trade in respect of the exhibition continues on or after 1 April 2025,

(c)     the production company's company tax return for the first accounting period that ends on or after 1 April 2025 is accompanied by a statement of the amount of the core expenditure on the exhibition incurred before 1 April 2025 that is European expenditure, and

(d)     that statement shows that, in respect of core expenditure incurred before 1 April 2025, the European expenditure

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