Corporation Tax Act 2009 section 1217E

Introduction

Section 1217E defines key terms used throughout Chapter 5 relating to video games development companies and sets out a reporting requirement for when a video game is completed or abandoned.

• Defines "the company" as the video games development company, and "the separate video game trade" as that company's designated trade for the specific video game
• Defines the "completion period" as the accounting period in which the video game is finished, or if not finished, the period in which development ceases — with "interim accounting period" covering any earlier period during which development activity takes place
• Defines "interim certificate" and "final certificate" by reference to section 1217CC, and "special video games relief" as either video games tax relief or loss-transfer relief under section 1217DC
• Requires the company's tax return for the completion period to state whether the video game was completed or whether development was abandoned