Income Tax (Trading and Other Income) Act 2005 (c. 5)

SCHEDULES

SCHEDULE 1 U.K. Consequential amendments

Part 2 U.K. Other enactments

Finance (No. 2) Act 1992 (c. 48) U.K.

453 (1) Amend section 40A (revenue nature of expenditure on master versions of films) as follows. U.K.

(2) In subsection (1)—

(a) for “the purposes of the Tax Acts” substitute “ corporation tax purposes ”, and

(b) after “section 40D below” insert “ or section 143 of ITTOIA 2005 (corresponding income tax provision) ”.

(3) In subsection (2) for “the purposes of the Tax Acts” substitute “ corporation tax purposes ”.

(4) In the definition of “expenditure of a revenue nature” in subsection (4)(a) after “chargeable to” insert “ corporation ”.