• From 2 December 2004 (unless the film was already in production at that date), only one person will be able to claim relief (under F(No 2)A 1992, s42 or F(No 2)A 1997, s48) for a qualifying British film, either for production expenditure or acquisition expenditure but not both.
• From 2 December 2004 (unless he has already entered into an unconditional agreement at that date), if a person claims film reliefs and enters into an agreement guaranteeing him income from the exploitation of the film, the reliefs will be restricted to the extent, if any, that guaranteed income will arise more than 15 years after the making of the agreement.
• To prevent groups of companies using 'exit schemes' intended to convert the deferral of tax via film reliefs into permanent avoidance of tax, companies will be required, where the disposal of film rights out of the group occurs on or after 2 December 2004, to treat the value of film rights (so far as not already taxed) as a trading receipt at the time of the exit event.
• To the extent that film reliefs for members of partnerships are already limited by reference to partners' capital contributions to the firm, the rules are being tightened to disregard, from 2 December 2004, any capital contributed which is not genuinely at risk.

In addition, for films starting principal photography on or after 2 December 2004, the rules for low-budget films (F(No 2)A 1997, s48) will be aligned more closely with those for larger budget films (F(No 2)A 1992, s42). This will ensure that relief is always restricted to expenditure that is incurred before the film is completed and is payable no later than four months after completion.