Section 103D | Meaning of “qualifying film expenditure” ^F1

(1)For the purposes of this Chapter expenditure is qualifying film expenditure if—^F1

(a)it is deducted under a relevant film provision for the purposes of the calculation required by section 849 of ITTOIA 2005 (calculation of firm's profits or losses), or^F1

(b)it is incidental expenditure which (although not deducted under a relevant film provision) is incurred in connection with the production of a film, or the acquisition of the original master version of a film, in relation to which expenditure is so deducted.^F1

(2)Expenditure is incidental if it is on management, administration or obtaining finance.^F1

(3)The extent to which expenditure is within subsection (1)(b) is determined on a just and reasonable basis.^F1

(4)For the purposes of this Chapter the amount of any loss that derives from qualifying film expenditure is determined on a just and reasonable basis.^F1

(5)In this section—^F1

“ the acquisition of the original master version of a film ” has the same meaning as in Chapter 9 of Part 2 of ITTOIA 2005 (see sections 130 and 132 of that Act),

“ film ” is to be read in accordance with paragraph 1 of Schedule 1 to the Films Act 1985, and

“ a relevant film provision ” means any one of sections 137 to 140 of ITTOIA 2005 (relief for certified master versions of films).