Part II Income Tax, Corporation Tax and Capital Gains Tax
Chapter I General
Business expansion scheme
40CC1F1 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.