Corporation Tax Act 2009 section 1217M

Application of sections 1217MA to 1217MC

Section 1217M establishes which companies the loss relief rules in sections 1217MA to 1217MC apply to, and defines two key terms used throughout those sections.

• The loss relief provisions apply to a company treated as carrying on a separate trade in relation to a theatrical production under section 1217H(3)
• The "completion period" is the accounting period in which the company ceases to carry on the separate theatrical trade
• "Loss relief" is defined broadly to include any means by which a loss might reduce the taxable amount for the company or any other person
• These definitions underpin the rules in sections 1217MA to 1217MC governing how losses from theatrical productions can be used