Corporation Tax Act 2009 (c. 4)

Part 4 U.K. Property income

Chapter 5 U.K. Profits of property businesses: other rules about receipts and deductions

[F1 Furnished accommodation: wear and tear allowance U.K.

Textual Amendments

F1 Ss. 248A-248C and cross-heading inserted (1.4.2011) (with effect in accordance with art. 13(2) of the amending S.I.) by The Enactment of Extra-Statutory Concessions Order 2011 (S.I. 2011/1037), arts. 1, 12(2)

248B Meaning of “eligible” in relation to a dwelling-house U.K.

(1) A dwelling-house is “eligible” at any time in relation to a company (“C”) that carries on a property business in an accounting period if, at that time—

(a) the dwelling-house is subject to a furnished letting comprised in the business,

(b) the dwelling-house contains sufficient furniture, furnishings and equipment for normal residential use, and

(c) C is responsible for the state of affairs mentioned in paragraph (b).

(2) C is so responsible if—

(a) any of the furniture, furnishings and equipment contained in the dwelling-house at the time mentioned in subsection (1) is provided by C,

(b) that furniture, furnishings and equipment, together with any furniture, furnishings and equipment in the dwelling-house at that time provided by a superior landlord of C, is sufficient for normal residential use, and

(c) the conditions in paragraphs (a) and (b) are not met in relation to a superior landlord of C.

(3) References in this section to a superior landlord of C are to any person who—

(a) has an interest in the dwelling-house that is superior to that of C, and

(b) carries on a property business in the accounting period that consists of or includes a furnished letting to which the dwelling-house is subject.]