Corporation Tax Act 2009 section 152

Interpretation of sections 150 and 151

Section 152 defines key terms used in the rules on expenditure for sound recordings in sections 150 and 151.

• A "sound recording" excludes film soundtracks, where "film" has the meaning given elsewhere in the Act
• The "original master version" means the master tape or master audio disc, including any rights held or acquired with it
• A "relevant period" is the period for which trade accounts are drawn up, or failing that, the company's accounting period
• These definitions ensure consistent application of the revenue expenditure and allocation rules for sound recordings