HC Deb 01 March 1983 vol 38 cc103-4W
Mr. Arnold

asked the Chancellor of the Exchequer whether section 176 of the Income and Corporation Taxes Act 1970 has ever been applied to losses on theatrical productions.

Mr. Ridley

Yes, I can confirm that section 176 may apply to such losses. Whether relief is due will depend on the particular facts of a case.