SCHEDULES
SCHEDULE 5Film tax relief: further provisions
Part 1Entitlement to film tax relief
Artificially inflated claims for deduction or film tax credit
13
1
To the extent that a transaction is attributable to arrangements entered into wholly or mainly for a disqualifying purpose, it shall be disregarded in determining for any period—
a
any additional deduction to which a company is entitled under this Part of this Schedule, and
b
any film tax credit to which a company is entitled.
2
Arrangements are entered into wholly or mainly for a disqualifying purpose if their main object, or one of their main objects, is to enable a company to obtain—
a
an additional deduction under this Part of this Schedule to which it would not otherwise be entitled or of a greater amount than that to which it would otherwise be entitled, or
b
a film tax credit to which it would not otherwise be entitled or of a greater amount than that to which it would otherwise be entitled.
3
In this paragraph “arrangements” includes any scheme, agreement or understanding, whether or not legally enforceable.