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—

L×Rmath

where—

  • L is the amount of the loss surrendered, and

  • R is the payable credit rate (see paragraph 8).