F1PART 8BTrading profits taxable at the Northern Ireland rate
CHAPTER 12Television production
Television tax relief
357SBNorthern Ireland supplementary deduction
1
This section applies where—
a
a company is entitled under section 1216CF of CTA 2009 to an additional deduction in calculating the profit or loss of the separate programme trade in an accounting period,
b
the company is a Northern Ireland company in the period,
c
the additional deduction is wholly or partly a Northern Ireland additional deduction, and
d
any of the following conditions is met—
i
the company does not have a surrenderable loss in the accounting period;
ii
the company has a surrenderable loss in the accounting period, but does not make a claim under section 1216CH of CTA 2009 (television tax credit claimable if company has surrenderable loss) for the period;
iii
the company has a surrenderable loss in the accounting period and makes a claim under that section for the period, but the amount of Northern Ireland losses surrendered on the claim is less than the Northern Ireland additional deduction.
2
The company is entitled to make another deduction (“a Northern Ireland supplementary deduction”) in respect of qualifying expenditure.
3
See section 357SC for provision about the amount of the Northern Ireland supplementary deduction.
4
The Northern Ireland supplementary deduction—
a
is made in calculating the profit or loss of the separate programme trade, and
b
forms part of the Northern Ireland profits or Northern Ireland losses of the separate programme trade.
5
In this section “surrenderable loss” has the meaning given by section 1216CH of CTA 2009.
Pt. 8B inserted (with effect in accordance with s. 5 of the amending Act) by Corporation Tax (Northern Ireland) Act 2015 (c. 21), s. 1