Commentary

D7.12106 Exhibition tax credit relief

Corporate tax
Corporate tax | Commentary

D7.12106 Exhibition tax credit relief

Corporate tax | Commentary

D7.12106 Exhibition tax credit relief

An exhibition production company may claim an exhibition tax credit in respect of any accounting period in which it has a surrenderable loss1. A company may surrender all or part of its surrenderable loss in an accounting period2. The company's trading loss is reduced by the amount surrendered for the exhibition tax credit3.

The surrenderable loss is the lower of4:

  1.  

    (a)     the company's trading loss for that period (ignoring, if applicable, any Northern Ireland supplementary deduction (D7.1293) made in any previous accounting period5) in the separate exhibition trade, plus any brought forward losses from a previous accounting period that have not been surrendered for an exhibition tax

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