1202Surrendering of loss and amount of film tax creditU.K.
(1)The company may surrender the whole or part of its surrenderable loss in an accounting period.
(2)If the company surrenders the whole or part of that loss, the amount of the film tax credit to which it is entitled for the accounting period is given by—
F2(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4)The company's [F3available loss] for the accounting period is reduced by the amount surrendered.
Textual Amendments
F1Words in s. 1202(2) substituted (with effect in accordance with s. 29(8) of the amending Act) by Finance Act 2015 (c. 11), s. 29(4)(a)(7); S.I. 2015/1741, reg. 2
F2S. 1202(3) omitted (with effect in accordance with s. 29(8) of the amending Act) by virtue of Finance Act 2015 (c. 11), s. 29(4)(b)(7); S.I. 2015/1741, reg. 2
F3Words in s. 1202(4) substituted (with effect in accordance with s. 14(7)(8) of the amending Act) by Finance (No. 3) Act 2010 (c. 33), s. 14(6)