Related Commentary  

1218ZCI(1)  The companyʼs surrenderable loss in the accounting period is–

(a)the companyʼs available loss for the period in the separate exhibition trade (see subsections (2) and (3)), or

(b)if less, the available qualifying expenditure for the period (see subsections (4) and (5)).

1218ZCI(2)  The companyʼs available loss for an accounting period is–

L + RUL

where–

L is the amount of the companyʼs loss for the period in the separate exhibition trade, and

RUL is the amount of any relevant unused loss of the company (see subsection (3)).

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