Section 1218ZCC | The UK expenditure condition ^F1

(1)The “UK expenditure condition” is that at least 10% of the core expenditure on the production of the exhibition incurred by the company is UK expenditure.^F2F3

(2)In this Part “UK expenditure” means expenditure on goods or services that are used or consumed in the United Kingdom.^F4

(3)Any apportionment of expenditure as between expenditure that is and is not UK expenditure for the purposes of this Part is to be made on a just and reasonable basis.^F5

(4)The Treasury may by regulations—

(a)amend the percentage specified in subsection (1);

(b)amend subsection (2).

(5)See also sections 1218ZE and 1218ZEA (which are about the giving of relief provisionally on the basis that the UK expenditure condition will be met).^F6