Yn ddilys o 07/04/2005
11(1)Section 138 of ITTOIA 2005 (certified master versions: production expenditure) (as substituted by paragraph 3 of this Schedule) is amended as follows.U.K.
(2)In subsection (1), after paragraph (a) insert—
“(aa)section 139 does not apply in relation to that film,”.
(3)After subsection (1) insert—
“(1A)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.”
(4)In subsection (5), in Calculation 2—
(a)at the end of paragraph (a) insert “ and ”, and
(b)omit paragraph (c) and the word “and” immediately before it.
(5)Subject to sub-paragraphs (6) to (8), the amendments made by this paragraph have effect for the year 2005-06 and subsequent years of assessment.
(6)Those amendments do not have effect in relation to expenditure relating to films which had their first day of principal photography before 2nd December 2004.
(7)The amendments made by sub-paragraphs (2) and (4) do not have effect in relation to cases to which section 138 of ITTOIA 2005 applies in which any of the expenditure within subsection (1)(a) of that section is pre-announcement expenditure.
(8)The amendment made by sub-paragraph (3) does not have effect in relation to pre-announcement expenditure.