Part 3Trading income

Chapter 9Trade profits: other specific trades

Sound recordings

152Interpretation of sections 150 and 151

(1)

For the purposes of sections 150 and 151—

(a)

“sound recording” does not include a film soundtrack,

(b)

“original master version” means the master tape or master audio disc of the recording,

(c)

references to the original master version of a sound recording include any rights in the original master version that are held or acquired with it, and

(d)

“relevant period” means—

(i)

a period for which accounts of the trade are made up, or

(ii)

if no accounts of the trade are made up for a period, an accounting period of the company.

(2)

In subsection (1)(a) “film” is to be read in accordance with section 1181.