Part II Income Tax, Corporation Tax and Capital Gains Tax
Chapter I General
Business expansion scheme
40CF1 Cases where section 40B does not apply
(1)
To the extent that a deduction has been made in respect of any expenditure for a relevant period under section 42 below—
(a)
that expenditure must not be allocated under section 40B above, and
(b)
no other expenditure incurred on the production or acquisition of the master version of the film is to be allocated under section 40B above to the relevant period.
(2)
Section 40B above does not apply to the profits of a trade in which the master version of the film constitutes trading stock, as defined by section 100(2) of the Taxes Act 1988.