SCHEDULES

SCHEDULE 33Long funding leases of films

5

1

Section 502B of ICTA or section 148A of ITTOIA 2005 (rental earnings) does not apply to a period of account within sub-paragraph (2).

2

A period of account is within this sub-paragraph if—

a

it begins on or after the relevant date, and

b

no rentals due (wholly or partly) in respect of any part of the period of account were due under the lease before the relevant date.