Corporation Tax Act 2010 section 357SD

Tax credit: Northern Ireland supplementary deduction ignored

Section 357SD requires that Northern Ireland supplementary deductions are excluded when calculating a company's available loss for the purposes of claiming television tax credits.

• When a company claims television tax credit, it must have a surrenderable loss under section 1216CH of CTA 2009.
• Any Northern Ireland supplementary deduction made by the company in the current accounting period must be ignored when determining that available loss.
• Northern Ireland supplementary deductions made in earlier accounting periods must also be disregarded for this purpose.
• This ensures the Northern Ireland rate relief does not artificially inflate the loss available for surrender as a television tax credit.