SCHEDULES
SCHEDULE 4Relief for carried-forward losses
PART 5Carrying forward trade losses in certain creative industries
Losses of video game trade
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1
Section 1217DA (restriction on use of losses while video game in development) is amended as follows.
2
In subsection (2)—
a
after “45” insert “
or 45B
”
, and
b
for “set against” substitute “
deducted from
”
.
3
After subsection (2) insert—
3
If the loss is carried forward under section 45 or 45B of CTA 2010 and deducted from profits of the separate video game 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).