Corporation Tax Act 2009

[F1 Introductory U.K.

Textual Amendments

F1 Pt. 15B inserted (17.7.2013 for specified purposes and 1.4.2014 in so far as not already in force) by Finance Act 2013 (c. 29), Sch. 17 paras. 1, 2; S.I. 2014/1962, art. 2(1)(2)

1217A Overview of Part U.K.

(1) This Part is about video games development.

(2) Sections 1217AA to 1217AF contain definitions and other provisions about interpretation that apply for the purposes of this Part. See, in particular—

(a) section 1217AA, which contains provision about the meaning of “video game”, and

(b) section 1217AB, which explains how a company comes to be treated as the video games development company in relation to a video game.

(3) Chapter 2 is about the taxation of the activities of a video games development company and includes—

(a) provision for the company's activities in relation to [F2 each qualifying] video game to be treated as a separate trade, and

(b) provision about the calculation of the profits and losses of that trade.

(4) Chapter 3 is about relief (called “video games tax relief”) which can be given to a video games development company—

(a) by way of additional deductions to be made in calculating the profits or losses of the company's separate trade, or

(b) by way of a payment (a “video game tax credit”) to be made on the company's surrender of losses from that trade.

(5) Chapter 4 is about the relief which can be given for losses made by a video games development company in its separate trade, including provision for certain such losses to be transferred to other separate trades.

(6) Chapter 5 provides—

(a) for relief under Chapters 3 and 4 to be given on a provisional basis, and

(b) for such relief to be withdrawn if it turns out that conditions that must be met for such relief to be given are not actually met.]

Textual Amendments

F2 Words in s. 1217A(3)(a) substituted (with effect in accordance with s. 34(8) of the amending Act) by Finance Act 2014 (c. 26), s. 34(2)