Income Tax (Trading and Other Income) Act 2005 section 139

Certified master versions: production expenditure on limited-budget films

Section 139 previously set out rules for determining how production expenditure on limited-budget films was treated when a certified master version of the film was produced, but this provision has been repealed.

• Section 139 was part of a group of provisions (sections 136–144) dealing with the tax treatment of film production expenditure
• These provisions specifically addressed the creation of certified master versions of films and the associated production costs for limited-budget films
• All of these provisions were repealed by Finance Act 2006, section 178, and Schedule 26, Part 3(4)
• The repeal took effect from 1 January 2007, meaning the section has no application to periods from that date onwards