SCHEDULES

SCHEDULE 4Relief for carried-forward losses

PART 5Carrying forward trade losses in certain creative industries

Losses of television programme trade

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1

Section 1216DA (restriction on use of losses while programme in production) is amended as follows.

2

In subsection (2)—

a

after “45” insert “ or 45B ”, and

b

for “set against” substitute “ deducted from ”.

3

After subsection (2) insert—

3

If the loss is carried forward under section 45 or 45B of CTA 2010 and deducted from profits of the separate programme 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).