C1Part 15Film production

Annotations:
Modifications etc. (not altering text)
C1

Pt. 15 applied (with modifications) by S.I. 2007/1050, regs. 3-12 (as amended (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 2 para. 131 (with Sch. 2 Pts. 1, 2))

Chapter 4Film losses

C21209Restriction on use of losses while film in production

1

This section applies if in a pre-completion period a loss is made in the separate film trade.

2

The loss is not available for loss relief except to the extent that it may be carried forward under F3section 45 F1or 45B of CTA 2010 to be F2deducted from profits of the separate film trade in a subsequent period.

F43

If the loss is carried forward under section 45 or 45B of CTA 2010 and deducted from profits of the separate film trade in a subsequent period, the deduction is to be ignored for the purposes of section 269ZB of CTA 2010 (restriction on deductions from trading profits).