Section 1179DR Expenditure that qualifies for creditF1
United Kingdom
Expenditure incurred by the production company for a film or television programme counts as “relevant production expenditure” for the purposes of section 1179CA(2) if—
it is core expenditure in relation to that film or television programme (see section 1179DS), and
it is not excluded expenditure (see sections 1179DT and 1179DU).
But for the purposes of step 1 in section 1179CA(1) as it applies in relation to a certified low-budget film (see section 1179DJA(9))—
no more than £15 million can count towards the total of the production company’s relevant global expenditure, and
UK expenditure counts towards that total before other expenditure.
Annotations
Textual amendments
- F1
Pt. 14A inserted (22.2.2024) by Finance Act 2024 (c. 3), Sch. 2 para. 1 (with Sch. 2 paras. 16(1), 17-25)
- F2
S. 1179DR renumbered as s. 1179DR(1) (with effect in accordance with s. 15 of the amending Act) by Finance (No. 2) Act 2024 (c. 12), s. 14(4)(a)
- F3
S. 1179DR(2) inserted (with effect in accordance with s. 15 of the amending Act) by Finance (No. 2) Act 2024 (c. 12), s. 14(4)(b)