Corporation Tax Act 2009 section 811

Sound recordings

Section 811 excludes intangible fixed assets relating to master versions of sound recordings from the intangible fixed assets regime in Part 8, except where royalties are concerned.

• Part 8 of the Corporation Tax Act 2009 (the intangible fixed assets regime) does not apply to an intangible fixed asset held by a company to the extent it represents expenditure on the production or acquisition of the master version of a sound recording.
• The exclusion does not apply to royalties — these remain within the Part 8 regime even where they relate to sound recordings.
• "Master version" means the master tape or master audio disc of the recording, and includes any rights in the master version that are held or acquired together with it.
• "Sound recording" for these purposes does not include a film soundtrack.