Section 1217MA — Corporation Tax Act 2009: Restriction on use of losses before completion period

Restriction on use of losses before completion period 1217MA 1 This section applies if a loss is made by the company in the separate theatrical trade in an accounting period preceding the completion period.

2 The loss is not available for loss relief, except to the extent that the loss may be carried forward under section 45 or 45B of CTA 2010 to be deducted from profits of the separate theatrical trade in a subsequent period.

3 If the loss is carried forward under section 45 or 45B of CTA 2010 and deducted from profits of the separate theatrical trade in a subsequent period, the deduction is to be ignored for the purposes of section 269ZB of CTA 2010 (restriction on deductions from trading profits).