Commentary on Sections Overview Chapter 3: Film tax relief Section 1203: Payment in respect of film tax credit
3045.This section requires the Commissioners for HMRC to pay to the company any film tax credit to which it is entitled and for which a claim has been made. It is based on paragraphs 9, 10 and 14 of Schedule 5 to FA 2006.
3046.Various circumstances in which a payment need not be made are set out. These include cases where the company has not yet made certain payments that it is required to make.
3047.Subsection (5) provides that a payment in respect of film tax credit does not count as income of the company.