Income Tax (Trading and Other Income) Act 2005 section 142B

Meaning of "deferred income agreement in respect of a film"

Section 142B defined what constituted a "deferred income agreement in respect of a film" for the purposes of the film-related tax provisions, but this section has been repealed and is no longer in force.

• Section 142B was introduced by Finance Act 2005, section 65(1), to provide a definition of "deferred income agreement in respect of a film".
• The definition supported the wider set of provisions in sections 136–144 of ITTOIA 2005, which dealt with the tax treatment of income from films.
• Finance Act 2006, section 178 and Schedule 26, Part 3(4), repealed sections 136–144 (including section 142B) with effect from 1 January 2007.
• As a result, this provision has no continuing practical application for accounting periods or tax years beginning on or after that date.