Transitional provision for films in productionU.K.
7(1)This paragraph applies in relation to any claim for relief under section 42 of F(No.2)A 1992 (other than any claim for relief under that section as modified by section 48 of F(No.2)A 1997) which is in respect of expenditure incurred on the acquisition of the original master version of a film which was in production on 2nd December 2004.U.K.
(2)No relief is available under section 42 of F(No.2)A 1992 in respect of that expenditure if—
(a)the acquisition is not the first acquisition by the claimant of the original master version of the film, or
(b)a claim has already been made under that section, or a deduction has already been made under section 138, 138A or 140 of ITTOIA 2005, in respect of expenditure incurred on another acquisition of that version.
(3)Where, in relation to any particular film, more than one claim under section 42 of F(No.2)A 1992 is made at the same time, the Inland Revenue may determine which of the claims is to be regarded as made first for the purposes of this paragraph.
In this sub-paragraph references to a claim under section 42 of F(No.2)A 1992 are to be read as including references to a deduction of the kind mentioned in sub-paragraph (2)(b).
(4)For the purposes of this paragraph “the Inland Revenue” means any officer of the Board.
(5)This paragraph is deemed to have come into force on 2nd December 2004.
Yn ddilys o 07/04/2005
8(1)This paragraph applies in relation to relief under section 138 of ITTOIA 2005 in respect of any expenditure incurred on the acquisition of the original master version of a film which was in production on 2nd December 2004.U.K.
(2)No deduction is allowed under that section in respect of expenditure incurred by a person on the acquisition of that version if—
(a)the acquisition is not the first acquisition by that person of the original master version of the film, or
(b)a deduction has already been made under section 138, 138A or 140 of ITTOIA 2005, or a claim has already been made under section 42 of F(No.2)A 1992, in respect of expenditure incurred on another acquisition of that version.
(3)Where, in relation to any particular film, more than one deduction of the kind mentioned in sub-paragraph (2)(b) is made at the same time, the Inland Revenue may determine which of the deductions is to be regarded as made first for the purposes of this paragraph.
In this sub-paragraph references to a deduction of the kind mentioned in sub-paragraph (2)(b) are to be read as including references to a claim under section 42 of F(No.2)A 1992.
(4)For the purposes of this paragraph “the Inland Revenue” means any officer of the Board.
(5)This paragraph has effect for the year 2005-06 and subsequent years of assessment.