Section 1216BC Costs of the relevant programmeF1

United Kingdom

(1)

References in this Chapter to the costs of the relevant programme are to expenditure incurred by the company on—

(a)

television production activities in connection with the programme, or

(b)

activities with a view to exploiting the programme.

(2)

This is subject to any provision of the Corporation Tax Acts prohibiting the making of a deduction, or restricting the extent to which a deduction is allowed, in calculating the profits of a trade.

(3)

Expenditure that (apart from this subsection) would be regarded as of a capital nature by reason only of being incurred on the creation of an asset (the relevant programme) is treated as being of a revenue nature.

Annotations

Textual amendments

F1: Pt. 15A inserted (17.7.2013 for specified purposes, 19.7.2013 in so far as not already in force, and with effect in accordance with Sch. 16 para. 3 of the amending Act) by Finance Act 2013 (c. 29), Sch. 16 paras. 1, 2; S.I. 2013/1817, art. 2(1)