PART 15B

Video games development
CHAPTER 4

Video game losses

Restriction on use of losses while video game in development
1217DA
1
This section applies if in a pre-completion period a loss is made in the separate video game trade.
2
The loss is not available for loss relief except to the extent that it may be carried forward under section 45
or 45B
of CTA 2010 to be
deducted from
profits of the separate video game trade in a subsequent period.
3
If the loss is carried forward under section 45 or 45B of CTA 2010 and deducted from profits of the separate video game 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).
Pt. 15B inserted (17.7.2013 for specified purposes and 1.4.2014 in so far as not already in force) by Finance Act 2013 (c. 29), Sch. 17 paras. 1, 2; S.I. 2014/1962, art. 2(1)(2)
S. 1217DA(3) inserted (with effect in accordance with Sch. 4 para. 190 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 4 para. 36(3)
Words in s. 1217DA(2) inserted (with effect in accordance with Sch. 4 para. 190 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 4 para. 36(2)(a)
S. 1217DA modified by 2010 c. 4, s. 357TF (as inserted (with effect in accordance with s. 5 of the amending Act) by Corporation Tax (Northern Ireland) Act 2015 (c. 21), s. 1)
Words in s. 1217DA(2) substituted (with effect in accordance with Sch. 4 para. 190 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 4 para. 36(2)(b)