SCHEDULES
SCHEDULE 2

Transitionals and savings
Part 17

Film production

Application of Part 15 etc to films that commenced principal photography before 1 January 2007 but were not completed before that date
130
1
The Treasury may make provision by regulations for the application of the provisions of—
a
Part 15 or section 812 of this Act, and
b
Chapter 3 of Part 3 of FA 2006 and any enactment amended by that Chapter,
in relation to films that commenced principal photography before 1 January 2007 but were not completed before that date.
2
The regulations may provide for such adaptations and modifications of—
a
the provisions mentioned in sub-paragraph (1), and
b
any other provision of the Corporation Tax Acts,
as appear to the Treasury appropriate for that purpose.
3
The regulations may—
a
provide that the provisions of Part 15 or section 812 of this Act (or any specified provisions of that Part or section) or Chapter 3 of Part 3 of FA 2006 (or any specified provisions of that Chapter) have effect as if they had been in force at all material times,
b
require or authorise the making or amendment of returns, or the making of assessments, in relation to past accounting periods or tax years (whenever beginning), and
c
authorise the making of any such return, amendment or assessment despite any limitation on the time within which a return, amendment or assessment may normally be made.
131
1
In accordance with Part 1 of this Schedule, the Corporation Tax (Taxation of Films) (Transitional Provisions) Regulations 2007 (S.I. 2007/1050) have effect as if made under paragraph 130 above.
2
For that purpose they are amended as follows.
3
In regulation 1(2) for “(films and sound recordings)” substitute “ and Part 15 and section 812 of the Corporation Tax Act 2009 (film production) ”.
4
Omit regulation 2.
5
In regulation 3 for “Chapter 3 of Part 3” substitute “ Part 15 and section 812 of the Corporation Tax Act 2009, Chapter 3 of Part 3 of the Finance Act 2006 ”.
6
In regulation 4 for “section 32” substitute “ section 1182 of the Corporation Tax Act 2009 ” (and make a corresponding change in the heading for regulation 4).
7
In regulation 5 for “section 40” substitute “ section 1197 of the Corporation Tax Act 2009 ” (and make a corresponding change in the heading for regulation 5).
8
In regulation 6(1) after “section 46” insert “ of the Finance Act 2006 ” (and make a corresponding change in the heading for regulation 6).
9
In regulation 7(1) after “section 47” insert “ of the Finance Act 2006 ” (and make a corresponding change in the heading for regulation 7).
10
For regulation 8 substitute—

Modification of section 812 of the Corporation Tax Act 2009 (intangible fixed assets: films)
8
In section 812(1) of the Corporation Tax Act 2009—
a
in paragraph (a) for “that began principal photography before 1st January 2007” substitute “ to which Chapter 2 of Part 15 of the Corporation Tax Act 2009 does not apply ”, and
b
in paragraph (b) for “1st October 2007” substitute “31st March 2008
.
11
For regulation 9 substitute—

Modification of section 1188 of the Corporation Tax Act 2009 (taxation of activities of film production company)
9
In section 1188(1) of the Corporation Tax Act 2009 (taxation of activities of film production company) after “a film” insert
if the film—
a
is certified by the Secretary of State under Schedule 1 to the Films Act 1985 as a British film for the purposes of film tax relief, and
b
is intended for theatrical release at the time principal photography commences
.
12
In regulation 10(1) after “Schedule 5” insert “ to the Finance Act 2006 ” (and make a corresponding change in the heading for regulation 10).
13
Omit regulation 10(2).
14
In regulation 10(5) for the words after “sections 46 and 47” substitute “ of the Finance Act 2006 (films: withdrawal of existing reliefs) and section 1188(1) of the Corporation Tax Act 2009 (taxation of activities of film production company) ”.
15
In regulation 13(1)—
a
for “Chapter 3 of Part 3” substitute “ Part 15 or section 812 of the Corporation Tax Act 2009, of Chapter 3 of Part 3 of the Finance Act 2006 ”, and
b
for “whether before or after the commencement of that Chapter” substitute “ whenever beginning ”.