[1217MC Terminal losses]
Corporation Tax Act 2009 (2009 c 4) | Legislation

[1217MC  Terminal losses]

[(1)     This section applies if—

(a)     the company ceases to carry on the separate theatrical trade, and

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

Below in this section the company is referred to as “company A” and the separate theatrical trade is referred to as “trade 1”.

(2)     If company A—

(a)     is treated under section 1217H(3) as carrying on a separate theatrical trade in relation to another theatrical production (“trade 2”), and

(b)     is carrying on trade 2 when it ceases to carry on trade 1,

company A may (on making a claim) elect to

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