1199Additional deduction for qualifying expenditureU.K.
This section has no associated Explanatory Notes
(1)If film tax relief is available to the company, it may (on making a claim) make an additional deduction in respect of qualifying expenditure on the film.
(2)The deduction is made in calculating the profit or loss of the separate film trade.
(3)In this Chapter “qualifying expenditure” means core expenditure on the film that falls to be taken into account under Chapter 2 in calculating the profit or loss of the separate film trade for tax purposes.
(4)The Treasury may by regulations—
(a)amend subsection (3), and
(b)provide that expenditure of a specified description is or is not to be regarded as qualifying expenditure.