TTR60060 - Claims: amending returns

S1217NA Corporation Tax Act 2009

The normal time limits for amending returns and making assessments are overridden in certain circumstances.

This will occur where the Theatrical Production Company (TPC) is required to amend a return to reflect the fact that the TPC was not entitled to Theatre Tax Relief (TTR) for a period because of the level of UK expenditure failing to achieve at least 10% of core expenditure on the theatrical production. (Prior to 1 April 2024, the minimum expenditure condition instead required at least 25% of core expenditure to be European expenditure. Please see TTR40040 and TTR40045 for details.)

This applies to assessments and situations where the TTR claim was in excess of the amount the TPC was eligible to.

Where, under the amended return, the TPC is entitled to less relief than under the original return and therefore has to repay HMRC, interest will be due.  Penalties will not typically be due unless the erroneous claim was made deliberately or due to carelessness.

This is the case regardless of whether the TTR simply reduced the Corporation Tax payable by the TPC or a claim for Theatre Tax Credit was made.

If a company amends a claim originally made before 1 April 2024, the requirement to complete an additional information form (TTR60020) does not apply.