For normal trades outside of the museum and gallery exhibition regime, losses may be set off in a number of ways including against other income or surrendering to other companies in a group. This is not possible for a separate exhibition trade within CTA 2009, Part 15E until the period in which the trade ceases. Losses incurred by a production company in any accounting period while the exhibition is still in production can only be carried forward and set against future profits of that same trade1. They may not be relieved sideways, carried forward for relief against total profits or surrendered for group relief. Losses set against future profits of the trade are ignored for the purposes of the restriction on such deductions in CTA 2010, s 269ZB (see D1.1108B)2.
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