Income Tax (Trading and Other Income) Act 2005 section 138A

Certified master versions: acquisition expenditure

Section 138A dealt with how acquisition expenditure on certified master versions of film, tape or disc was to be treated for income tax purposes, but this provision has been repealed.

• This section was introduced by Finance Act 2005 and formed part of a group of provisions (sections 136–144) concerning the tax treatment of film-related expenditure.
• The section specifically addressed the acquisition expenditure incurred in relation to certified master versions of recordings held on film, tape or disc.
• All of sections 136 to 144, including section 138A, were repealed by Finance Act 2006, section 178 and Schedule 26, Part 3(4).
• The repeal took effect from 1 January 2007, meaning these provisions have no application to periods from that date onwards.

---