Valid from 06/04/2005
This section has no associated Explanatory Notes
528(1)Amend section 17 (furnished holiday lettings businesses) as follows.U.K.
(2)In subsection (1) for “a Schedule A business in so far” to the end substitute “ a UK property business, or a Schedule A business, which consists in, or so far as it consists in, the commercial letting of furnished holiday accommodation ”.
(3)For subsection (3) substitute—
“(3)For the purposes of income tax the “commercial letting of furnished holiday accommodation” has the same meaning as it has for the purposes of Chapter 6 of Part 3 of ITTOIA 2005.
For the purposes of corporation tax the “commercial letting of furnished holiday accommodation” has the meaning given by section 504 of ICTA.”