»Ê¹ÚÌåÓýapp

S1217RG, S1217RH Corporation Tax Act 2009 (CTA 2009)

An Orchestral Production Company (OPC) has the option of claiming Orchestra Tax Relief (OTR) as a payable Orchestra Tax Credit (OTC) direct from HMRC.  It can do so in any period in which it has a surrenderable loss.

»Ê¹ÚÌåÓýapp OPC may surrender all or part of its surrenderable loss.

»Ê¹ÚÌåÓýapp amount of the surrenderable loss

»Ê¹ÚÌåÓýapp amount of the surrenderable loss for any accounting period is the lesser of:

• the amount of the OPC's available loss for the accounting period in the separate orchestral  trade, and
• the available qualifying expenditure for that period.

»Ê¹ÚÌåÓýapp OPC's available loss is the sum of the loss for the period plus any relevant unused loss brought forward.

»Ê¹ÚÌåÓýapp relevant unused loss brought forward is any available loss for previous periods not set against profits of the separate orchestral trade nor surrendered for OTC.

»Ê¹ÚÌåÓýapp available qualifying expenditure is the enhanceable expenditure to date less the total amount previously surrendered, if any.

»Ê¹ÚÌåÓýapp amount of Orchestra Tax Credit

»Ê¹ÚÌåÓýapp amount of the payment is the OTC rate multiplied by the amount of loss surrendered.

»Ê¹ÚÌåÓýapp OTC rate is 25%, unless the temporary uplifted rate applies. From 1 April 2025, the rate is 45% (see OTR10070).