Corporation Tax Act 2009 section 1179CG

No credit payable if company in administration or liquidation

Section 1179CG prevents a company from receiving a payable audio visual expenditure credit if the company is in administration or liquidation at the time it makes the claim.

• A company cannot receive a cash payment of any expenditure credit if it is in administration or liquidation when it makes its claim.
• A company is treated as being in administration if it is subject to formal administration proceedings under UK insolvency law.
• A company is treated as being in liquidation if it meets the definition of being in liquidation under UK insolvency law.
• Equivalent insolvency proceedings under the laws of any country or territory outside the United Kingdom are also caught by this restriction.