Section 1179DZ Effect of move out of higher-percentage categoryF1

United Kingdom

(1)

Subsection (2) applies if, for an accounting period, a production company is entitled to, and claims, an audiovisual expenditure credit—

(a)

in respect of a film on the basis that it is an animation, or

(b)

in respect of a television programme on the basis that it is an animation or a children’s programme.

(2)

The production company may not, for any subsequent accounting period, claim an audiovisual expenditure credit in respect of the film or programme on the basis that it is—

(a)

a qualifying film other than an animation, or

(b)

a qualifying television programme other than an animation or a children’s programme.

(3)

Subsection (2) ceases to apply if the company amends its company tax return for the accounting period referred to in subsection (1) to withdraw the claim for expenditure credit for that period.

(4)

An amendment may be made for that purpose despite any limitation on the time within which the return could normally be amended.

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)