This section contains guidance on the tax law and practice for
trades and businesses which exploit films and audio recordings.
Most of the legislation relates to the treatment of expenditure
incurred on the production or acquisition of the original master
version of a film or audio product.
The legislation provides rules for determining the timing of
deduction of this expenditure for the purpose of arriving at the
profit chargeable or loss allowable for tax purposes in respect of
a trade or business that includes the exploitation of the original
master version.
This guidance also covers anti-avoidance legislation
introduced in FA02, FA04 and FA05.
