SCHEDULES

SCHEDULE 1Consequential amendments

Part 2Other enactments

Finance (No. 2) Act 1992 (c. 48)

453

1

Amend section 40A (revenue nature of expenditure on master versions of films) as follows.

2

In subsection (1)—

a

for “the purposes of the Tax Acts” substitute “ corporation tax purposes ”, and

b

after “section 40D below” insert “ or section 143 of ITTOIA 2005 (corresponding income tax provision) ”.

3

In subsection (2) for “the purposes of the Tax Acts” substitute “ corporation tax purposes ”.

4

In the definition of “expenditure of a revenue nature” in subsection (4)(a) after “chargeable to” insert “ corporation ”.