It's a commercial
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Im only [having a laugh]. Its just a joke. Its only for the benefit of the TV cameras. Said in a condescending tone when you played a trick on someone and want to tell them its only a joke. Or when you accidentally did something stupid and want to pretend it was a joke. As popularised by [Michael Winner] on [British TV].
It's a commercial meaning & definition 1 of It's a commercial.