Income Tax (Trading and Other Income) Act 2005 section 140

Certified master versions: acquisition expenditure on limited-budget films

Section 140 dealt with the tax treatment of acquisition expenditure on certified master versions of limited-budget films, but this provision has been repealed.

• Section 140 was part of a group of provisions (sections 136–144) that governed the tax treatment of expenditure on certified master versions of films
• These rules specifically addressed acquisition expenditure in the context of limited-budget films
• All of these provisions, including section 140, were repealed by the Finance Act 2006, section 178, and Schedule 26, Part 3(4)
• The repeal took effect from 1 January 2007, meaning these rules no longer apply to any periods from that date onwards