Section 1179B | Election to tax qualifying production as separate trade

(1)The qualifying company for a qualifying production may elect in its company tax return for an accounting period for the production to be taxed as a separate trade.

(2)The effect of such an election is that the activities of the company in relation to the production are to be treated for corporation tax purposes as a trade separate from any other activities of the company (including activities in relation to other qualifying productions).

(3)In this Part—

(a)that trade is called “the separate production trade”;

(b)the accounting period to which the return containing the election relates is called “the opt-in period”.