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Capital Allowances Act 2001

Paragraph 82

2045.This paragraph is based on section 68 of CAA 1990. That is legislation for expenditure on films which may or may not be capital expenditure. It:

  • treats the expenditure as revenue expenditure (and does other things); or

  • if an election can be and is made, leaves the expenditure to be treated as revenue or capital expenditure in the normal way.

2046.This paragraph puts the provisions with other legislation about films. It includes in the new section 40B of F(No.2)A 1992 a definition of “relevant periods”. This is expressed differently from section 68(3) of CAA 1990. The revised wording makes clear what the relevant period is if no accounts of the trade or business concerned are made up for a period. See Note 76 in Annex 2.

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