Corporation Tax Act 2009 section 1217S

Application of sections 1217SA to 1217SC

Section 1217S introduces the loss relief rules that apply when a company is treated as carrying on a separate orchestral trade for the production of a concert or concert series.

• The loss relief rules in sections 1217SA to 1217SC apply to companies treated as having a separate orchestral trade for producing a concert or concert series
• The separate trade arises under section 1217Q(2) or (5), which requires the company's orchestral concert activities to be treated as a distinct trade for tax purposes
• The "completion period" is defined as the accounting period in which the company stops carrying on the separate orchestral trade
• "Loss relief" is broadly defined to include any method by which a loss can reduce the taxable amount for the company or any other person