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5(1)References in this Schedule to the costs of the film are to expenditure incurred by the company on—
(a)film-making activities in connection with the film, or
(b)activities with a view to exploiting the film.
(2)This is subject to any provision of the Corporation Tax Acts prohibiting the making of a deduction, or restricting the extent to which a deduction is allowed, in calculating the profits of a trade.
(3)Expenditure that (apart from this provision) would be regarded as of a capital nature by reason only of being incurred on the creation of an asset (the film) is treated as being of a revenue nature.
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