Search Legislation

Capital Allowances Act 2001

Status:

This is the original version (as it was originally enacted).

This sectionnoteType=Explanatory Notes has no associated

116(1)Sections 40A to 40D of F(No.2)A 1992 (films) apply with the necessary modifications in relation to—

(a)expenditure on the production of a film—

(i)completed before 21st March 2000, or

(ii)completed on or after that date, if the first day of principal photography is before that date, unless the person incurring the expenditure elects that those modifications should not apply;

(b)expenditure on the acquisition of a film, tape or disc incurred before 6th April 2000.

(2)The necessary modifications are—

(a)the substitution for section 40A(1) of—

(1)Expenditure which—

(a)is incurred on the production or acquisition of a film, tape or disc, and

(b)would, apart from this subsection, constitute capital expenditure on the provision of plant or machinery for the purposes of Part 2 of the Capital Allowances Act,

is to be regarded for the purposes of the Tax Acts as expenditure of a revenue nature unless an election under section 40D below has effect with respect to it.;

(b)in section 40A(2), the substitution of “the production or acquisition of a film, tape or disc” for “the master version of a film” and of “of the film, tape or disc” for “of the master version”;

(c)in section 40A(3), the substitution of “film, tape or disc” for “master version of a film” and of “the film, tape or disc” for “the master version” (in both places);

(d)the substitution for section 40A(5) of—

(5)In this section and sections 40B to 40D below—

(a)any reference to a film is a reference to an original master negative of the film and its soundtrack, if any;

(b)any reference to a tape is a reference to an original master film tape or original master audio tape; and

(c)any reference to a disc is a reference to an original master film disc or original master audio disc;

and any reference to the acquisition of a film, tape or disc includes a a reference to the acquisition of any description of rights in a film, tape or disc.;

(e)in section 40B(1), the substitution of “films, tapes or discs” for “master versions of films” and of “film, tape or disc” for “master version of a film”;

(f)in section 40B(4), the substitution of “film, tape or disc” for “master version of the film” and of “film, tape or disc” for “master version”;

(g)in section 40B(5), the substitution of “film, tape or disc” for “master version of the film”;

(h)in section 40C(1), the substitution of “film, tape or disc” for “master version of the film”;

(i)in section 40C(2), the substitution of “film, tape or disc” for “master version of the film”;

(j)in section 40D(2), the substitution of “films, tapes or discs” for “master versions of films”, of “film, tape or disc” for “master version of a film” and of “the film, tape or disc” for “the master version” (in both places);

(k)in section 40D(3), the substitution of “film, tape or disc” for “master version”;

(l)in section 40D(4), the substitution of “film, tape or disc” for “master version of the film” (in both places);

(m)in section 40D(6), the substitution of “a film, tape or disc” for “the master version of a film” and of “of the film, tape or disc” for “of the master version”; and

(n)in section 40D(7), the substitution of “film, tape or disc” for “master version of a film”.

(3)An election under sub-paragraph (1)(a) is irrevocable.

(4)For the purposes of sub-paragraph (1)(a) a film is completed at the time when it is first in a form in which it can reasonably be regarded as ready for copies of it to be made and distributed for presentation to the general public.

(5)In sub-paragraph (1)(b)—

(a)“film” means an original master negative of the film and its soundtrack, if any;

(b)“tape” means an original master film tape or original master audio tape; and

(c)“disc” means an original master film disc or original master audio disc;

and the acquisition of a film, tape or disc includes the acquisition of any description of rights in a film, tape or disc.

Back to top

Options/Help

Print Options

You have chosen to open The Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act as a PDF

The Whole Act you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open the Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open the Whole Act without Schedules

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open Schedules only

The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

See additional information alongside the content

Show Explanatory Notes for Sections: Displays relevant parts of the explanatory notes interweaved within the legislation content.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

Explanatory Notes

Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enactedversion that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources