Finance Act 2005 (c. 7)

SCHEDULES

SCHEDULE 3 Films: restrictions on relief for production and acquisition expenditure

Part 3 Minor and consequential amendments

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

30 (1) ITTOIA 2005 is amended as follows.

(2) In section 139 (certified master versions: production expenditure on limited-budget films), in subsection (1), after paragraph (a) insert—

“(aa) the film was completed in, or before, that period,”.

(3) In section 140 (certified master version: acquisition expenditure on limited-budget films), in subsection (1), after paragraph (a) insert—

“(aa) the film was completed in, or before, that period,”.

(4) In Schedule 2 (transitionals and savings etc), in paragraph 34 for “Section 138 does” substitute “Sections 138 and 138A do”.