Commentary

D7.1246 Television tax credit relief

Corporate tax
Corporate tax | Commentary

D7.1246 Television tax credit relief

Corporate tax | Commentary

D7.1246 Television tax credit relief

A television production company may claim a television 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 television tax credit3.

The surrenderable loss is the lower of4:

  1.  

    (a)     the company's trading loss for that period in the separate programme trade, plus any unsurrendered loss brought forward (its 'available loss'); and

  2.  

    (b)     the available qualifying expenditure

In the first period of account in which the trade is carried on, the available qualifying expenditure is the lower of5:

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