[F1269ACapital allowances and loss relief: overseas property businessU.K.
(1)If an overseas property business consists of both—
(a)the commercial letting of furnished holiday accommodation in one or more EEA states (“the EEA furnished holiday lettings part”), and
(b)other businesses or transactions (“the other part”),
this section requires separate calculations to be made of the profits of the EEA furnished holiday lettings part and the other part.
(2)The calculations must be made if—
(a)section 250 or 250A of CAA 2001 (giving effect to allowances and charges) applies to the EEA furnished holiday lettings part or the other part, or
(b)any provision of Chapter 2, 4 or 6 of Part 4 of CTA 2010 (loss relief) applies in relation to a loss made in either of those parts.
(3)If there is a letting of accommodation only part of which is holiday accommodation, such apportionments are to be made for the purposes of this section as are just and reasonable.]
Textual Amendments
F1S. 269A inserted (19.7.2011) (with effect in accordance with Sch. 14 para. 9 of the amending Act) by Finance Act 2011 (c. 11), Sch. 14 para. 7(7)