Section 357TF | Restriction on use of losses while video game in development

(1)Section 1217DA of CTA 2009 (restriction on use of losses while video game in development) has effect subject as follows.

(2)The reference in subsection (1) of that section to a loss made in the separate video game trade in a pre-completion period is, if the company is a Northern Ireland company in that period, a reference to—

(a)any Northern Ireland losses of the trade of the period, or

(b)any mainstream losses of the trade of the period;

and references to losses in subsections (2) and (3) of that section are to be read accordingly.

(3)Subsection (4) applies if a Northern Ireland company has, in a pre-completion period—

(a)both Northern Ireland losses of the trade and mainstream profits of the trade, or

(b)both mainstream losses of the trade and Northern Ireland profits of the trade.

(4)The company may make a claim under section 37 (relief for trade losses against total profits) for relief for the losses mentioned in subsection (3)(a) or (b).

(5)But relief on such a claim is available only—

(a)in the case of a claim for relief for Northern Ireland losses, against mainstream profits of the trade of the same period;

(b)in the case of a claim for relief for mainstream losses, against Northern Ireland profits of the trade of the same period.

(6)In this section “a pre-completion period” has the same meaning as in section 1217DA of CTA 2009 (see section 1217D(2) of that Act).