HMRC internal manual

Business Income Manual

BIM56200 - Films and sound recordings: master versions of sound recordings: contents

Expenditure on the production or acquisition of the original master version of a sound recording is treated for Income Tax and Corporation Tax purposes as revenue expenditure. There are special rules to determine the timing of deductions.

These rules do not apply in calculating the profits of a trade on the cash basis.

This section explains these rules and contains the following: