Assets excluded except as regards royalties: sound recordingsU.K.
[F180B(1)Except as regards royalties, this Schedule does not apply to an intangible fixed asset held by a company to the extent that it represents expenditure by the company on the production or acquisition of the master version of a sound recording.
(2)For this purpose—
(a)“sound recording” does not include a film soundtrack;
(b)“master version” means master tape or master audio disc of the recording;
(c)references to the master version include any rights in the master version that are held or acquired with it.]
Textual Amendments
F1Sch. 29 paras. 80A, 80B substituted for Sch. 29 para. 80 (1.1.2007) by Finance Act 2006 (c. 25), ss. 51(1), 53(1); S.I. 2006/3399, art. 2