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S.C.A.
Amendment Paper as at
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| '(a) | undertakes (whether on its own account or whether it is responsible to a third party)— |
| (i) | principal photography and post production of the film, and |
| (ii) | delivery of the completed film,'. |
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
31
Clause 32, page 29, line 18 [Vol I], leave out 'pre-production'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
65
Clause 32, page 29, line 22 [Vol I], leave out 'pre-production,'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
32
Clause 32, page 29 [Vol I], leave out lines 24 and 25.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
33
Clause 32, page 29, line 26 [Vol I], at end insert—'(3A) The Treasury may, by regulations—
| (a) | amend subsection (3); and |
| (b) | provide that specified activities are or are not to be regarded for the purposes of this Chapter as film making activities; |
and in this subsection "specified" means specified in the regulations.'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
46
Clause 32, page 29, line 27 [Vol I], after 'company', insert 'resident in the United Kingdom (and not resident in another place in accordance with the law of that place relating to taxation)'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
34
Clause 34, page 30, line 19 [Vol I], after 'on', insert 'development,'.
Dawn Primarolo
26
Clause 35, page 30, line 36 [Vol 1], leave out from beginning to end of line 37 and insert 'goods or services that are used or consumed in the United Kingdom'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
35
Clause 35, page 30, line 37 [Vol I], at end insert—'But for the purposes of this subsection—
| (a) | services provided in relation to rented equipment shall be considered to have been performed in the United Kingdom where the equipment is used in the United Kingdom; and |
| (b) | where goods are initially supplied in the United Kingdom, their subsequent transport and use outside the United Kingdom shall not prevent the relevant expenditure from being treated as UK expenditure.'. |
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
40
Schedule 4, page 165 [Vol I], leave out lines 15 to 17.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
42
Schedule 4, page 165, line 26 [Vol I], at end insert—
| '(1A) | Where a company incurs expenditure on the development of a film that is abandoned before pre-production and subsequently begins to carry on a trade as a film production company in relation to another film, the expenditure may be treated as expenditure of the trade of the second film and as if incurred immediately after the company began to carry it on. Provided that the same expenditure is not to be given more than once.'. |
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
53
Schedule 4, page 166, line 19 [Vol I], leave out paragraphs 7, 8 and 9 and insert—
| '7 | For the purposes of this Schedule profits and losses are calculated in accordance with generally-accepted United Kingdom accounting principles.'. |
Mr David Gauke
55
Schedule 4, page 167, line 4 [Vol I], at end insert '; and accordingly—
(a) where, within six years of the end of the first period of account, it becomes clear that the original estimates were incorrect, the film production company can elect in writing to amend the original tax computations to reflect the correct position;
(b) income taxed under the provisions of paragraph 7 of this Schedule shall not be taken into account for tax purposes in a subsequent period of account.'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
41
Schedule 4, page 167 [Vol I], leave out lines 6 to 17.
Dawn Primarolo
27
Clause 39, page 31, line 28 [Vol 1], leave out subsection (3) and insert—'(3) Whether this condition is met is determined for each accounting period of the film production company during which film-making activities are carried on in relation to the film, in accordance with the following rules.
(4) If at the end of an accounting period the film is intended for theatrical release, the condition is treated as having been met throughout that period (subject to subsection (5)(b)).
(5) If at the end of an accounting period the film is not intended for theatrical release, the condition—
| (a) | is treated as having been not met throughout that period, and |
| (b) | cannot be met in any subsequent accounting period. |
This does not affect any entitlement of the company to relief in an earlier accounting period for which the condition was met.'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
43
Clause 39, page 31, line 28 [Vol I], leave out subsection (3) and insert—'(3) Whether this condition is met may be determined at any time after film making activities begin, so long as the film is intended for theatrical release prior to delivery of the completed film'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
44
Clause 41, page 32, line 4 [Vol I], at end insert 'and expenditure incurred by a person which is reimbursed by a film production company shall be deemed to be expenditure by the film production company for the purposes of this section where it would have fallen within this section had it been incurred directly by the film production company'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
54
Schedule 5, page 170, line 5 [Vol I], after 'pay' insert 'within 90 days of the claim being made, subject to sub-paragraphs (3) and (4) below,'.
Dawn Primarolo
24
Schedule 5, page 173, line 33 [Vol I], leave out 'that Chapter' and insert 'Chapter 3 of Part 3 of the Finance Act 2006'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
36
Clause 45, page 33, line 21 [Vol I], leave out 'qualifying'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
37
Clause 45, page 33, line 26 [Vol I], leave out 'qualifying'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
38
Clause 45, page 33, line 32 [Vol I], leave out first 'qualifying'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
39
Clause 45, page 34, line 6 [Vol I], leave out from 'Schedule 4' to end of line 8.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
48
Clause 46, page 34, line 13 [Vol I], after 'film' insert 'by a film production company'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
49
Clause 47, page 34, line 42 [Vol I], after 'film' insert 'by a film production company'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
50
Clause 47, page 35, line 2 [Vol I], after 'film' insert 'by a film production company'.
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