Section 33: Television Tax Relief: Activities to Be Treated as a Separate Trade
Summary
1.This section clarifies that only those television programmes that claim television tax relief are within the scope of the rules at Part 15A Corporation Tax Act 2009 (‘CTA 2009’).
Detail of the Section
2.Part 15A of CTA 2009 is amended at sections 1216A and 1216B to insert ‘qualifying’. This makes it clear that only those television programmes that claim the credit are required to have separate trades for the purposes of the rules in Part 15A.
Background Note
3.The television production tax relief was introduced by Finance Act 2013. Part 15A provides the rules for claiming tax credits on qualifying expenditure for high-end television or animation productions.
4.This tax relief allows qualifying companies engaged in the production of animation and high-end television intended for release to the general public to claim an additional deduction in computing their taxable profits and where that additional deduction results in a loss, to surrender that loss for a payable tax credit.
