Legislation – Finance Act 2024
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Schedule 2Films, television programmes and video games
Part 4Amendments consequential on Part 3
CTA 2010
14
(1)
CTA 2010 is amended as follows.
(2)
In section 45A(3) (conditions for carrying forward trade loss against total profits), in paragraph (b)(ii), omit “1209, 1216DA, 1217DA,”.
(3)
In section 45B(1) (cases in which trade loss carried forward against trade profits)—
(a)
in paragraph (d), omit “, 2”;
(b)
omit Case 2.
(4)
In section 357BI (excluded debits under Part 8A), omit paragraphs (c) and (d) (but not the following “and”).
(5)
In section 357BJB (deductions that are not routine deductions under Part 8A), omit subsections (1)(e) and (f), (8) and (9).
(6)
In section 357CG (adjustments in calculating relevant IP profits under Part 8A)—
(a)
in subsection (3), omit paragraphs (c) and (d);
(b)
omit subsection (5A);
(c)
in subsection (6)—
(i)
for “subsections (5) and (5A)” substitute “subsection (5)”
;
(ii)
“qualifying expenditure”;
“the separate programme trade”;
“the separate video game trade”;
“television production company”;
“theatrical production”;
“video games development company”.
(7)
Omit section 357CHA (deemed shortfall in television or video game expenditure for purposes of adjusting relevant IP profits).
(8)
In Part 8B (profits taxable at Northern Ireland rate), omit Chapters 11 to 13.