»Ê¹ÚÌåÓýapp

CTA09/S1209

Relief limited to carry forward

»Ê¹ÚÌåÓýapp film tax regime includes rules which modify the normal loss relief rules for film production companies (FPCs). »Ê¹ÚÌåÓýappse modifications include a restriction on the use of losses for accounting periods preceding that in which the film is completed.

Where an FPC has a trading loss for any accounting period preceding that in which the film is completed (FPC10150) the loss is not available for any form of loss relief (including group relief) except that it may be carried forward to set against future profits of the same trade.

»Ê¹ÚÌåÓýappse provisions are not altered by the loss relief provisions brought in from 1 April 2017 for pre-completion periods.