An exhibition production company may claim an additional deduction in respect of qualifying expenditure, which either decreases taxable profits or increases the amount of losses available for surrender in exchange for a tax credit1. The relief is claimed through the company tax return (see D7.12103).
No claim can be made on or after 1 April 2024 if the company is in administration or liquidation2.
For these purposes, 'qualifying expenditure' refers to core expenditure that is UK (European expenditure prior to April 2024, see the transitional rules in D7.12103 which set out when this change takes effect)3 that would normally be taken into account4 in calculating the profit or loss of the separate exhibition trade for tax purposes. Expenditure which is otherwise eligible for relief under any of the other creative industry reliefs is not 'qualifying expenditure' for the purpose of this relief5.
Expenditure which could be claimed under the merged R&D scheme from 1 April 2024, or as an R&D expenditure credit (RDEC)6 or the enhanced revenue
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Web page updated on 17 Mar 2025 17:04