# Corporation Tax Act 2009, Section 1202: Surrendering of loss and amount of film tax credit

Extent: E+W+S+N.I.

(1) The company may surrender the whole or part of its surrenderable loss in an accounting period.
(2) If the company surrenders the whole or part of that loss, the amount of the film tax credit to which it is entitled for the accounting period is given by—
L x R
where—
L is the amount of the loss surrendered, and
R is 25%.
(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4) The company's available loss for the accounting period is reduced by the amount surrendered.

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Source: https://www.legislation.gov.uk/ukpga/2009/4/section/1202 (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2009/section-1202
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.