Corporation Tax Act 2009 section 132

Prohibition on double counting

Section 132 prevents expenditure from qualifying for relief under the sound recordings rules in Chapter 2 of Part 15 where relief has already been given for the same expenditure under earlier legislation.

• Expenditure that has already received tax relief under specified earlier provisions cannot also be claimed under the sound recordings rules in Chapter 2 of Part 15.
• The earlier provisions include sections 40B, 41 and 42 of the Finance (No.2) Act 1992, which dealt with film production and acquisition expenditure.
• Relief previously given under section 48 of the Finance (No.2) Act 1997 or under sections 135 to 142 of the Income Tax (Trading and Other Income) Act 2005 also prevents a further claim under Part 15.
• This anti-double-counting rule is treated as forming part of Part 15 itself for the purposes of the transitional provisions and any related regulations.