Modifications etc. (not altering text)
C1Pt. 15 applied (with modifications) by S.I. 2007/1050, regs. 3-12 (as amended (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 2 para. 131 (with Sch. 2 Pts. 1, 2))
(1)This section applies if in a pre-completion period a loss is made in the separate film trade.
(2)The loss is not available for loss relief except to the extent that it may be carried forward under [F1section 45 [F2or 45B] of CTA 2010] to be [F3deducted from] profits of the separate film trade in a subsequent period.
[F4(3)If the loss is carried forward under section 45 or 45B of CTA 2010 and deducted from profits of the separate film 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).]
Textual Amendments
F1Words in s. 1209(2) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 680 (with Sch. 2)
F2Words in s. 1209(2) inserted (with effect in accordance with Sch. 4 para. 190 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 4 para. 28(2)(a)
F3Words in s. 1209(2) substituted (with effect in accordance with Sch. 4 para. 190 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 4 para. 28(2)(b)
F4S. 1209(3) inserted (with effect in accordance with Sch. 4 para. 190 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 4 para. 28(3)
Modifications etc. (not altering text)
C2S. 1209 modified by 2010 c. 4, s. 357RF (as inserted (with effect in accordance with s. 5 of the amending Act) by Corporation Tax (Northern Ireland) Act 2015 (c. 21), s. 1)