Corporation Tax Act 2009 section 1179C

Entitlement to expenditure credit

Section 1179C sets out when a qualifying company is entitled to claim an expenditure credit for a qualifying production, including the circumstances in which that entitlement may be lost or restored.

• A qualifying company is entitled to an expenditure credit from the opt-in period and for each subsequent accounting period in which it continues to carry on the separate production trade.
• Entitlement is lost for any period in which the production is no longer qualifying, or the company is no longer the qualifying company — but entitlement can be restored in a later period if qualifying status is regained.
• If events after the end of an accounting period cause the production to lose its qualifying status retrospectively, the company loses its entitlement for that period and must amend any company tax return that relied on the credit.
• An expenditure credit is claimed through the company tax return process under Part 9D of Schedule 18 to the Finance Act 1998.