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

[1217SC  Terminal losses]

[(1)     This section applies if—

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

(b)     if the company had not ceased to carry on that 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 orchestral trade is referred to as “trade 1”.

(2)     If company A—

(a)     is treated under section 1217Q(2) or (5) as carrying on a separate trade in relation to the production of another concert or concert series (“trade 2”), and

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

company A may

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