Corporation Tax Act 2010 section 357QF

Expenditure credit to count towards mainstream profits or losses

Section 357QF ensures that audiovisual or video game expenditure credits received by a Northern Ireland company are included within its mainstream profit or loss calculations for the relevant accounting period.

• Applies to Northern Ireland companies that receive audiovisual expenditure credits or video game expenditure credits.
• These credits arise where the company brings an amount into account as a taxable receipt of its separate qualifying trade.
• Any such expenditure credit amount must be treated as part of the company's mainstream profits or mainstream losses for the trade.
• This ensures expenditure credits are factored into the mainstream computation used to determine the Northern Ireland rate of corporation tax.