[135 Allocation of production or acquisition expenditure to relevant periods]
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

[Rules for allocating expenditure]

[135  Allocation of production or acquisition expenditure to relevant periods]

(1)     This section applies for the purpose of calculating the profits of a trade of a relevant period if—

(a)     the trade consists of or includes the exploitation of the original master versions of . . . sound recordings,

(b)     the original master versions do not constitute trading stock of the trade (within the meaning of section 174),

(c)     the person carrying on the trade incurs

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