921Capital allowances deductions: filmsU.K.
(1)This section applies if—
(a)any relevant film deduction has been allowed to the current lessor (“L”) in respect of expenditure incurred in connection with the leased asset, and
(b)the amount or value of the major lump sum exceeds so much of that sum as was treated as receipts of a revenue nature under section 40A(2) of F(No.2)A 1992 (disposal proceeds of original master version of film treated as receipt of a revenue nature).
(2)In subsection (1) “relevant film deduction” means any deduction as a result of—
(a)section 40B(1) of F(No.2)A 1992 (allocation of expenditure on master versions of films to periods), or
(b)section 42 of that Act (relief for production or acquisition expenditure in respect of films).
(3)L is treated as if receipts of a revenue nature arose to L from the trade or business in question on the relevant occasion.
(4)The amount of those receipts is equal to the excess mentioned in subsection (1)(b).