Source: http://www.legislation.gov.uk/ukpga/2013/29/schedule/17
Timestamp: 2019-05-23 18:15:17
Document Index: 449920305

Matched Legal Cases: ['art 15', 'ART 15', 'art\n1217', 'art. 2', 'art 15', 'art 15', 'art. 2', 'art 15']

There are currently no known outstanding effects for the Finance Act 2013, SCHEDULE 17.
SCHEDULE 17E+W+S+N.I.Tax relief for video games development
1After Part 15A of CTA 2009 (inserted by Schedule 16 above) insert—
“PART 15BE+W+S+N.I.Video games development
1217AOverview of Part
1217AA“Video game” etc
1217ABVideo games development company
1217AC“Video game development activities” etc
1217AD“Core expenditure”
1217AE“UK expenditure” etc
1217AF“Company tax return”
CHAPTER 2E+W+S+N.I.Taxation of activities of video games development company
Separate video game tradeE+W+S+N.I.
1217BActivities of video games development company treated as a separate trade
1217BACalculation of profits or losses of separate video game trade
1217BBIncome from the video game
1217BCCosts of the video game
1217BDWhen costs are taken to be incurred
1217BEEstimates
CHAPTER 3E+W+S+N.I.Video games tax relief
1217CAvailability and overview of video games tax relief
“Intended for supply” E+W+S+N.I.
1217CAIntended for supply
British video gamesE+W+S+N.I.
1217CBBritish video game
1217CCApplications for certification
1217CDCertification and withdrawal of certification
1217CEUK expenditure
1217CFAdditional deduction for qualifying expenditure
1217CGAmount of additional deduction
Video game tax creditsE+W+S+N.I.
1217CHVideo game tax credit claimable if company has surrenderable loss
1217CISurrendering of loss and amount of video game tax credit
1217CJPayment in respect of video game tax credit
1217CKNo account to be taken of amount if unpaid
1217CLArtificially inflated claims for additional deduction or tax credit
1217CMConfidentiality of information
1217CNWrongful disclosure
CHAPTER 4E+W+S+N.I.Video game losses
1217DApplication of sections 1217DA and 1217DB
(1)Sections 1217DA and 1217DB apply to a company that is the video games development company in relation to a video game.
if the company does not complete the video game, in which it abandons video game development activities in relation to the video game,
“the separate video game trade” means the company's separate trade in relation to the video game (see section 1217B).
1217DARestriction on use of losses while video game in development
(1)This section applies if in a pre-completion period a loss is made in the separate video game trade.
(2)The loss is not available for loss relief except to the extent that it may be carried forward under section 45 of CTA 2010 to be set against profits of the separate video game trade in a subsequent period.
1217DBUse of losses in later periods
(b)any subsequent accounting period during which the separate video game trade continues.
(2)Subsection (3) applies if a loss made in the separate video game trade is carried forward under section 45 of CTA 2010 from a pre-completion period to a relevant later period.
(3)So much (if any) of the loss as is not attributable to video games tax relief (see subsection (6)) may be treated for the purposes of loss relief as if it were a loss made in the period to which it is carried forward.
(4)Subsection (5) applies if in a relevant later period a loss is made in the separate video game trade.
is restricted to the amount (if any) that is not attributable to video games tax relief (see subsection (6)).
(6)The amount of a loss in any period that is attributable to video games tax relief is calculated by deducting from the total amount of the loss the amount there would have been if there had been no additional deduction under Chapter 3 in that or any earlier period.
(7)This section does not apply to a loss to the extent that it is carried forward or surrendered under section 1217DC.
1217DCTerminal losses
(8)“Qualifying video game” means a video game in relation to which the conditions for video games tax relief are met (see 1217C(2)).
1217EIntroduction
1217EACertification as a British video game
1217EBThe UK expenditure condition
1217ECTime limit for amendments and assessments
I1Sch. 17 para. 1 in force at 1.4.2014 for the purposes of the amendment made by that paragraph, so far as it is not already in force by S.I. 2014/1962, art. 2(1)(2)
(b)may provide for those amendments to be treated as having come into force on a day earlier than the day on which the order is made or this Act is passed;
(c)may make such adaptations of Part 15B of CTA 2009 as appear to be necessary or expedient in consequence of other provisions of this Act not yet having come into force.
3(1)The amendments made by this Schedule have effect in relation to accounting periods beginning on or after the day specified for the purposes of this paragraph in an order made by the Treasury (“the specified day”).E+W+S+N.I.
(2)An order under sub-paragraph (1) may specify a day earlier than the day on which the order is made or this Act is passed.
(3)Sub-paragraph (4) applies where a company has an accounting period beginning before the specified day and ending on or after that day (“the straddling period”).
(4)For the purposes of Part 15B of CTA 2009—
(a)so much of the straddling period as falls before the specified day, and so much of that period as falls on or after that day, are treated as separate accounting periods, and
C1Sch. 17 para. 3(1): 1.4.2014 appointed as "the specified day" by S.I. 2014/1962, art. 2(2)
4(1)The Treasury may by order make such amendments of this Schedule as are necessary for the purpose of complying with any undertakings given to the European Commission, or any conditions imposed by the Commission, in connection with an application for State aid approval.E+W+S+N.I.
(2)In this paragraph “State aid approval” means approval that the provision made by Part 15B of CTA 2009, to the extent that it constitutes the granting of aid to which any of the provisions of Article 107 or 108 of the Treaty on the Functioning of the European Union applies, is, or would be, compatible with the internal market, within the meaning of Article 107 of that Treaty.
(a)make incidental, supplemental, consequential, transitional or saving provision, including provision amending Schedule 18;
(b)contain provision having effect in relation to times before the order is made or this Act is passed.
(4)A statutory instrument that contains (whether alone or with other provisions) an order under this paragraph may not be made unless a draft of the instrument has been laid before, and approved by a resolution of, the House of Commons.