Corporation Tax Act 2009 section 1179B

Election to tax qualifying production as separate trade

Section 1179B allows the qualifying company for a qualifying production to elect for that production to be treated as its own separate trade for corporation tax purposes.

• The qualifying company can make an election in its company tax return for the production to be taxed as a separate trade.
• Once elected, all the company's activities relating to that production are treated as a trade entirely separate from its other activities.
• This separation also applies in relation to any other qualifying productions the company may have — each elected production stands alone.
• The legislation refers to this elected trade as the "separate production trade" and the accounting period in which the election is made as the "opt-in period".