SCIT Income tax – limited liability partnership – investment in films – expenditure on the acquisition of the master negative of a film – whether deduction under s 42 F(No 2)A 1992 precluded by s 101 FA 2002 – no – date of commencement of partnership’s business and basis period applicable – s 40B(3)(b)(ii) F(No 2)A 1992 – whether any part of acquisition expenditure on films to be disallowed – no – whether film consultancy fees incurred deductible – yes.
Citations:
[2008] UKSPC SPC00696
Links:
Jurisdiction:
England and Wales
Income Tax
Updated: 19 July 2022; Ref: scu.273101