Finance Act 2006 (c. 25)

SCHEDULES

SCHEDULE 16 U.K. Real Estate Investment Trusts: excluded business and income

Part 1 U.K. Classes of business

2 U.K. Letting of property which is held for use for administrative purposes in carrying on property rental business but is temporarily surplus to requirements for those purposes, provided that—

(a) the space let is comparatively small compared to the space occupied for administrative purposes, and

(b) the letting is for a term of not more than three years.