1211 Terminal losses
Corporation Tax Act 2009 (2009 c 4) | Legislation

1211  Terminal losses

(1) This section applies if—

(a) a company (“company A”) is the film production company in relation to a qualifying film,

(b) company A ceases to carry on its separate trade in relation to that film (“trade X”) (see section 1188), and

(c) if company A had not ceased to carry on trade X, it could have carried forward an amount under [section 45 [, 45A or 45B] of CTA 2010] to be set against profits of ... a later period (“the terminal loss”).

(2) If on cessation of trade X company A—

(a) is the film production company in relation to another qualifying film, and

(b) is carrying on its separate trade in relation to that film (“trade

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Codicils

CodicilsCodicils may be used for making any alteration in a Will such as to alter the executors or make changes in legacies, whether by addition or deletion but that is by no means their only use. As a general rule, substantial changes are best achieved by means of a new Will and codicils are more

LEXISNEXIS

HCPC—Main hearing of the Health and Care Professions Tribunal

HCPC—Main hearing of the Health and Care Professions TribunalCoronavirus (COVID-19): This Practice Note contains guidance on subjects impacted by the government’s response to the coronavirus outbreak. In particular, the Health and Care Professions Council (HCPC) (Coronavirus) (Amendment) Rules Order

LEXISNEXIS

The Money Laundering Reporting Officer (MLRO)

The Money Laundering Reporting Officer (MLRO)OverviewThe requirements to have robust systems and controls in a regulated firm to prevent money laundering originate from:•the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, SI 2017/692 (as

LEXISNEXIS

Negligent misstatement—defences and remedies

Negligent misstatement—defences and remediesThere are a number of ways in which liability for negligent misstatement may be avoided and/or limited. For details on founding a claim of negligent misstatement, see Practice Note: Negligent misstatement—founding a claim.For guidance generally on clauses