SCHEDULES
SCHEDULE 5Film tax relief: further provisions
Part 1Entitlement to film tax relief
7Amount of credit
1
The company may surrender the whole or part of its surrenderable loss in a period.
2
The amount of the film tax credit to which a company is entitled for a period is given by the formula—
where—
L is the amount of the loss surrendered, and
R is the payable credit rate (see paragraph 8).