- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (05/12/2005)
- Gwreiddiol (Fel y'i Deddfwyd)
Version Superseded: 19/07/2006
Point in time view as at 05/12/2005. This version of this provision has been superseded.
You are viewing this legislation item as it stood at a particular point in time. A later version of this or provision, including subsequent changes and effects, supersedes this version.
Note the term provision is used to describe a definable element in a piece of legislation that has legislative effect – such as a Part, Chapter or section.
There are currently no known outstanding effects for the Income Tax (Trading and Other Income) Act 2005, Section 139.
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
(1)This section applies if—
(a)the person carrying on the trade has incurred production expenditure in respect of the original master version of a film in, or before, the relevant period,
[F1(aa)the film was completed in, or before, that period,[F2 and before 1st January 2007]]
[F3(b)the first day of principal photography was before 1st April 2006,]
(c)the original master version is a certified master version,
[F4(ca)the original master version was owned by that person at the time the film was completed,]
(d)the film is genuinely intended for theatrical release, F5. . .
(e)the total production expenditure in respect of the original master version is £15 million or less (see section 141).
[F6, and
(f)there has not already been a disqualifying deduction in respect of expenditure relating to the film (see section 140A).]
(2)A deduction is allowed for the amount of the production expenditure allocated to the relevant period, but this is subject to the application of any prohibitive rule.
(3)The person carrying on the trade may allocate up to 100% of the production expenditure to the relevant period.
(4)Any expenditure which—
(a)has not been paid at the time the film is completed, and
(b)is not, at that time, the subject of an unconditional obligation to pay within 4 months after the date of completion,
is not regarded as production expenditure for the purposes of this section.
(5)Expenditure may not be allocated to the relevant period under this section if it is allocated—
(a)under this section to any other relevant period,
(b)under any other provision of this Chapter to the relevant period or any other relevant period,
(c)under section 42 of F(No.2)A 1992 as applied by section 48(1) and (2) of F(No.2)A 1997 (corporation tax provision corresponding to this section) to any other relevant period, or
(d)under section 40B or 41 of F(No.2)A 1992F7. . . to the relevant period or any other relevant period.
(6)If any production expenditure in respect of the original master version is allocated to the relevant period—
(a)under section 135 above, or
(b)under section 40B of F(No.2)A 1992,
no other production expenditure in respect of the original master version may be allocated to the relevant period under this section.
Textual Amendments
F1S. 139(1)(aa) inserted (with effect as mentioned in Sch. 3 para. 31(2) of the amending Act) by Finance Act 2005 (c. 7), s. 59, Sch. 3 para. 30(2)
F2Words in s. 139(1)(aa) inserted (with effect as mentioned in s. 58(6) of the amending Act) by Finance Act 2005 (c. 7), s. 58(2)(a)
F3S. 139(1)(b) substituted (with effect as mentioned in s. 58(6) of the amending Act) by Finance Act 2005 (c. 7), s. 58(2)(b)
F4S. 139(1)(ca) inserted (with effect as mentioned in Sch. 3 para. 4(4)-(6) of the amending Act) by Finance Act 2005 (c. 7), s. 59, Sch. 3 para. 4(2)
F5Word in s. 139(1) word repealed (with effect as mentioned in Sch. 3 para. 4(5)(6) of the amending Act) by Finance Act 2005 (c. 7), ss. 59, 104, Sch. 3 para. 4(3), Sch. 11 Pt. 2(3)
F6S. 139(1)(f) and preceding word inserted (with effect as mentioned in Sch. 3 para. 4(5)(6) of the amending Act) by Finance Act 2005 (c. 7), s. 59, Sch. 3 para. 4(3)
F7Words in s. 139(5)(d) repealed (with effect as mentioned in Sch. 3 para. 13(2)(3) of the amending Act) by Finance Act 2005 (c. 7), ss. 59, 104, Sch. 3 para. 13(1), Sch. 11 Pt. 2(3)
Modifications etc. (not altering text)
C1S. 139(1)(aa): power to amend conferred (7.4.2005) by virtue of Finance Act 2005 (c. 7), s. 58(4)
C2S. 139(1)(b): power to amend conferred (7.4.2005) by virtue of Finance Act 2005 (c. 7), s. 58(4)
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Part you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Part you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
Y Ddeddf Gyfan you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Y Ddeddf Gyfan heb Atodlenni you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Y Rhestrau you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.
Gwreiddiol (Fel y’i Deddfwyd neu y’i Gwnaed): Mae'r wreiddiol fersiwn y ddeddfwriaeth fel ag yr oedd pan gafodd ei deddfu neu eu gwneud. Ni wnaed unrhyw newidiadau i’r testun.
Pwynt Penodol mewn Amser: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
Rhychwant ddaearyddol: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Dangos Llinell Amser Newidiadau: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Testun a grëwyd gan yr adran o’r llywodraeth oedd yn gyfrifol am destun y Ddeddf i esbonio beth mae’r Ddeddf yn ceisio ei wneud ac i wneud y Ddeddf yn hygyrch i ddarllenwyr nad oes ganddynt gymhwyster cyfreithiol. Cyflwynwyd Nodiadau Esboniadol ym 1999 ac maent yn cyd-fynd â phob Deddf Gyhoeddus ac eithrio Deddfau Adfeddiannu, Cronfa Gyfunol, Cyllid a Chyfnerthiad.
Gallwch wneud defnydd o ddogfennau atodol hanfodol a gwybodaeth ar gyfer yr eitem ddeddfwriaeth o’r tab hwn. Yn ddibynnol ar yr eitem ddeddfwriaeth sydd i’w gweld, gallai hyn gynnwys:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Defnyddiwch y ddewislen hon i agor dogfennau hanfodol sy’n cyd-fynd â’r ddeddfwriaeth a gwybodaeth am yr eitem hon o ddeddfwriaeth. Gan ddibynnu ar yr eitem o ddeddfwriaeth sy’n cael ei gweld gall hyn gynnwys:
liciwch ‘Gweld Mwy’ neu ddewis ‘Rhagor o Adnoddau’ am wybodaeth ychwanegol gan gynnwys