Finance (No. 2) Act 2017 (c. 32)

SCHEDULES

SCHEDULE 4 U.K. Relief for carried-forward losses

PART 5 U.K. Carrying forward trade losses in certain creative industries

Losses of television programme trade U.K.

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

(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).”