Section 1211 Terminal lossesC1

a company (“company A”) is the film production company in relation to a qualifying film,

company A ceases to carry on its separate trade in relation to that film (“trade X”) (see section 1188), and

if company A had not ceased to carry on trade X, it could have carried forward an amount under F1section 45F2, 45A or 45B of CTA 2010 to be set against profits of F3... a later period (“the terminal loss”).

is the film production company in relation to another qualifying film, and

is carrying on its separate trade in relation to that film (“trade Y”),

in a case where the loss could have been carried forward under section 45 of CTA 2010 had trade X not ceased, as if it were a loss carried forward under that section to be set against the profits of trade Y of the first accounting period beginning after the cessation and so on, and

in a case where the loss could have been carried forward under section 45A or 45B of CTA 2010 had trade X not ceased, as if it were a loss made in trade Y which has been carried forward under section 45B of that Act to the first accounting period beginning after the cessation.

there is another company (“company B”) that is the film production company in relation to a qualifying film,

company B is carrying on its separate trade in relation to that film (“trade Z”), and

company B is in the same group as company A for the purposes of F5Part 5 of CTA 2010 (group relief).

in a case where the amount could have been carried forward under section 45 of CTA 2010 had trade X not ceased, as if it were a loss carried forward under that section to be set against the profits of trade Z of the first accounting period beginning after the cessation and so on, and

in a case where the amount could have been carried forward under section 45A or 45B of CTA 2010 had trade X not ceased, as if it were a loss made in trade Z which has been carried forward under section 45B of that Act to the first accounting period beginning after the cessation.