Section 1179C — Corporation Tax Act 2009: Entitlement to expenditure credit

Entitlement to expenditure credit 1179C 1 The qualifying company for a qualifying production is entitled to an expenditure credit for—

a the opt-in period, and b (subject to subsection (2) ) any subsequent accounting period in which it continues to carry on the separate production trade.

2 If in any of those subsequent periods the production is no longer a qualifying production, or the company is no longer the qualifying company for it, the company is not entitled to an expenditure credit for the period.

3 But that does not affect the entitlement of the company for any subsequent period in which the production is once again a qualifying production or the company is once again the qualifying company for it.

4 If a production ceases to be regarded as a qualifying production in an accounting period as a result of events after the end of that period—

a the qualifying company is no longer entitled to an expenditure credit for that period, and b any company tax return drawn up in reliance on such an entitlement must be amended so as to remove anything derived from that entitlement.

5 An expenditure credit to which a company is entitled may be claimed by the company in accordance with Part 9D of Schedule 18 to FA 1998.