Commentary on Sections Overview Chapter 2: Taxation of activities of film production company Section 1192: When costs are taken to be incurred
3028.This section makes provision about when costs are taken to be incurred. It is based on paragraph 9 of Schedule 4 to FA 2006.
3029.To prevent avoidance costs are, for instance, not to be treated as incurred before they are the subject of an unconditional obligation and are reflected in the state of completion of the work in progress.