Finance Act 2024

CTA 2009 U.K.

5 (1) CTA 2009 is amended as follows.

(2) For sections 808 to 808E substitute—

“807A Assets representing expenditure on separate creative production trade

This Part does not apply to an intangible fixed asset held by a company treated as carrying on a separate trade under any of Parts 14A to 15E (production of films, television programmes, video games, theatrical productions, orchestral concerts and museum and gallery exhibitions), so far as the asset represents expenditure of that separate trade.”

(3) In section 1040ZA (restrictions on claiming other reliefs where R&D relief given), before subsection (1) insert—

“(A1) For provision prohibiting audiovisual expenditure credit or video game expenditure credit being given where relief is available under this Part, see sections 1179DT and 1179FL.”

(4) In Schedule 4 (index of defined expressions), at the appropriate places insert—

“accounting period (in Part 14A)

sections 1179DY(1) (in relation to films and television programmes) and 1179FQ(1) (in relation to video games)”;

“animation (in Part 14A)

section 1179EA(3)”;

“audiovisual expenditure credit

section 1179D(3)”;

“company tax return (in Part 14A)

section 1179AC”;

“completed (in Part 14A)

sections 1179EB (in relation to films and television programmes) and 1179FS (in relation to video games)”;

“completion period (in Part 14A)

sections 1179DY(2) (in relation to films and television programmes) and 1179FQ(2) (in relation to video games)”;

“co-producer (of a qualifying co-production) (in Part 14A)

section 1179DQ”;

“core expenditure

sections 1179DS (in relation to films and television programmes) and 1179FK (in relation to video games)”;

“development activities

section 1179FR”;

“development company (in Part 14A)

section 1179FI”;

“film (in Part 14A)

section 1179DA”;

“group (in Part 14A)

section 1179AD”;

“opt-in period (in Part 14A)

section 1179B(3)”;

“pre-completion period (in Part 14A)

sections 1179DY(4) (in relation to films and television programmes) and 1179FQ(4) (in relation to video games)”;

“principal photography (in Part 14A)

section 1179EA(2)”;

“production (in Part 14A)

section 1179AA(9)”;

“production activities (in Part 14A)

section 1179EA(1)”;

“production company (in Part 14A)

section 1179DP”;

“qualifying company (in Part 14A)

sections 1179D(1) (in relation to films and television programmes) and 1179F(1) (in relation to video games); and see also section 1179BA(5)”;

“qualifying co-production (in Part 14A)

section 1179DQ”;

“qualifying film (in Part 14A)

section 1179DB”;

“qualifying production (in Part 14A)

sections 1179D(1) (in relation to films and television programmes) and 1179F(1) (in relation to video games); and see also section 1179BA(5)”;

“qualifying television programme (in Part 14A)

section 1179DE”;

“qualifying video game (in Part 14A)

section 1179FA”;

“the separate production trade (in Part 14A)

section 1179B(3)”;

“television programme (in Part 14A)

section 1179DD”;

“UK expenditure (in Part 14A)

section 1179AB”;

“video game expenditure credit

section 1179F(3)”.