Finance Act 2006 (c. 25)

Part 3 Income tax, corporation tax and capital gains tax

Chapter 3 Films and sound recordings

Film tax relief

41 Conditions of relief: UK expenditure

(1) Not less than 25% of the core expenditure on the film incurred—

(a) in the case of a British film other than a qualifying co-production, by the film production company,

(b) in the case of a qualifying co-production, by the co-producers,

must be UK expenditure.

(2) The Treasury may by regulations amend the percentage specified in subsection (1).

(3) No such regulations shall be made unless a draft of the regulations has been laid before and approved by a resolution of the House of Commons.