(1)In this Part “property rental business” means business that is or forms part of—
(a)a [F1UK property business] (within the meaning of [F2section 205 of CTA 2009]), or
(b)an overseas property business (within the meaning of [F3section 206 of that Act]).
(2)But—
(a)business of a kind listed in Part 1 of Schedule 16 is not property rental business, and
(b)business is not property rental business if or in so far as it gives rise to income or profits of a kind listed in Part 2 of that Schedule.
[F4(3)For the purposes of section 104(1) ignore the effect of section 42 of CTA 2009 (which provides for receipts and expenses in connection with tied premises to be treated as part of a trade and not as part of a property business).]
Textual Amendments
F1Words in s. 104(1)(a) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 684(a)(i) (with Sch. 2 Pts. 1, 2)
F2Words in s. 104(1)(a) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 684(a)(ii) (with Sch. 2 Pts. 1, 2)
F3Words in s. 104(1)(b) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 684(b) (with Sch. 2 Pts. 1, 2)
F4S. 104(3) inserted (with effect in accordance with Sch. 34 para. 2(2) of the amending Act) by Finance Act 2009 (c. 10), Sch. 34 para. 2(1)