Textual Amendments
F1Pt. 15A inserted (17.7.2013 for specified purposes, 19.7.2013 in so far as not already in force, and with effect in accordance with Sch. 16 para. 3 of the amending Act) by Finance Act 2013 (c. 29), Sch. 16 paras. 1, 2; S.I. 2013/1817, art. 2(1)
(1)This Part is about television production.
(2)Sections 1216AA to 1216AJ contain definitions and other provisions about interpretation that apply for the purposes of this Part. See, in particular—
(a)section 1216AB, which explains what is meant by a “relevant programme”, and
(b)section 1216AE, which explains how a company comes to be treated as the television production company in relation to a relevant programme.
(3)Chapter 2 is about the taxation of the activities of a television production company and includes—
(a)provision for the company's activities in relation to [F2each qualifying] relevant programme to be treated as a separate trade, and
(b)provision about the calculation of the profits and losses of that trade.
(4)Chapter 3 is about relief (called “television tax relief”) which can be given to a television production company—
(a)by way of additional deductions to be made in calculating the profits or losses of the company's separate trade, or
(b)by way of a payment (a “television tax credit”) to be made on the company's surrender of losses from that trade.
(5)Chapter 4 is about the relief which can be given for losses made by a television production company in its separate trade, including provision for certain such losses to be transferred to other separate trades.
(6)Chapter 5 provides—
(a)for relief under Chapters 3 and 4 to be given on a provisional basis, and
(b)for such relief to be withdrawn if it turns out that conditions that must be met for such relief to be given are not actually met.]
Textual Amendments
F2Words in s. 1216A(3)(a) substituted (17.7.2014) by Finance Act 2014 (c. 26), s. 33(2)