Section 357RG — Corporation Tax Act 2010: Use of losses in later periods

Use of losses in later periods 357RG 1 Section 1210 of CTA 2009 (restriction on use of losses in later periods) has effect subject as follows.

2 The reference in subsection (2) of that section to a loss made in the separate film trade is, in relation to a loss made in a period in which the company is a Northern Ireland company, a reference to—

a any Northern Ireland losses of the trade of the period, or b any mainstream losses of the trade of the period; and references to losses in subsections (3) and (6) of that section are to be read accordingly.

3 The reference in subsection (4) of that section to a loss made in the separate film trade in a relevant later period is, where the company is a Northern Ireland company in the period, a reference to—

a any Northern Ireland losses of the trade of the period, or b any mainstream losses of the trade of the period; and references to losses in subsections (5) , (5A) and (6) of that section are to be read accordingly.

4 Subsection (6) of that section has effect, in relation to Northern Ireland losses, as if the reference to an additional deduction under Chapter 3 of Part 15 of that Act included a reference to a Northern Ireland supplementary deduction under this Chapter.