Corporation Tax Act 2009 section 1179DY

Accounting periods

Section 1179DY defines key accounting period terminology used in the film and television programme tax relief rules, including what constitutes the "completion period" and "pre-completion period".

• An "accounting period" for a film or television programme means an accounting period of the production company responsible for that film or programme.
• The "completion period" is the accounting period in which either the film or programme is completed, or the production company abandons production activities — and the company must state which of these has occurred in its tax return for that period.
• A "pre-completion period" is any accounting period that falls before the completion period for the film or programme in question.
• The definition of "production company" extends to a company that is no longer the production company but continues to carry on the separate production trade in relation to the film or programme.