{
  "url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/schedule-2/paragraph-32",
  "json_url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/schedule-2/paragraph-32.json",
  "legislation": "ukpga/2005/5",
  "legislation_title": "Income Tax (Trading and Other Income) Act 2005",
  "legislation_url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005",
  "path": "schedule/2/paragraph/32",
  "kind": "paragraph",
  "number": "32",
  "heading": null,
  "text": "(1) Sections 134 and 135 do not apply in relation to expenditure incurred by a person carrying on a trade which consists of or includes the exploitation of original master versions of films if—\n(a) the expenditure is incurred on the production or acquisition of an original master version of a film completed before 10th March 1992 (within the meaning of Chapter 9 of Part 2),\n(b) the original master version is a certified master version,\n(c) its value is expected to be realised over a period of not less than two years, and\n(d) the film is genuinely intended for theatrical release.\n(2) Sub-paragraph (1)(d) does not apply if—\n(a) the original master version of the film was certified before 17th April 2002 by the Secretary of State under Schedule 1 to the Films Act 1985 (c. 21) as a qualifying film, tape or disc, or\n(b) an application for such certification was received by the Secretary of State before that date.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2005/5/schedule/2/paragraph/32",
    "retrieved_at": "2026-10-29T09:16:32.370392+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}