115 Restrictions on reliefs for firms exploiting films
Income Tax Act 2007 (2007 c 3) | Legislation

Restrictions for film trades carried on in partnership

115  Restrictions on reliefs for firms exploiting films

(1)     This section applies if—

(a)     an individual carries on a trade as a partner in a firm at a time during a tax year,

(b)     the trade consists of or includes the exploitation of films,

(c)     the individual makes a loss in the trade in the tax year (“the affected tax year”),

(d)     the individual does not devote a significant amount of time to the trade in the relevant period for the affected

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