Part 2Trading income
Chapter 9Trade profits: F7. . . sound recordings
Introduction
130Expenditure to which this Chapter applies
1
This Chapter makes provision about—
a
b
F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
In this Chapter references to production expenditure are to expenditure incurred on the production of the original master version of a F3. . . sound recording.
3
In this Chapter references to acquisition expenditure are to expenditure incurred on the acquisition of the original master version of a F4. . . sound recording.
4
In this Chapter references to the original master version of a film or sound recording include any rights in the original master version of a F5. . . sound recording that are held or acquired with it.
5
In this Chapter references to production or acquisition expenditure do not include—
a
interest (as to which, see section 29), or
b
the incidental costs of obtaining finance (as to which, see sections 58 and 59).
6
F6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
In this Chapter “any prohibitive rule” means any provision of the Income Tax Acts which—
a
prohibits a deduction from being made, or
b
restricts the extent to which it is allowed,
in calculating the profits of a trade.
Pt. 2 Ch. 9: words in heading repealed (with effect as mentioned in ss. 46, 47 of the repealing Act) by Finance Act 2006 (c. 25), s. 178, {Sch. 26 Pt. 3(4) Note 1}