PART 2A

STRUCTURES AND BUILDINGS ALLOWANCES
CHAPTER 9

SUPPLEMENTARY PROVISIONS

Co-ownership ... contractual schemes

Co-ownership schemes: carrying on qualifying activity
270IC
1
This section applies where the participants in a co-ownership
...
contractual scheme together carry on a qualifying activity.
2
Each participant in the scheme is for the purposes of this Part to be regarded as carrying on the qualifying activity.
3
Subsection (2) applies in relation to a participant only to the extent that the profits or gains arising to the participant from the qualifying activity are, or (if there were any) would be, chargeable to tax.
4
But in determining for the purposes of subsection (1) whether or to what extent the participants in a co-ownership
...
contractual scheme together carry on a qualifying activity, assume that profits or gains arising to all participants from the qualifying activity are, or (if there were any) would be, chargeable to tax.
S. 45H(2) modified (with effect in accordance with s. 167 of the amending Act) by Finance Act 2003 (c. 14) , Sch. 30 para. 7
Pt. 2A inserted (5.7.2019) by The Capital Allowances (Structures and Buildings Allowances) Regulations 2019 (S.I. 2019/1087), regs. 1, 2
Word in s. 270IC cross-heading omitted (19.3.2025) by virtue of The Co-ownership Contractual Schemes (Tax) Regulations 2025 (S.I. 2025/200), regs. 1(2), 56(2) (with reg. 63)
Word in s. 270IC(1) omitted (19.3.2025) by virtue of The Co-ownership Contractual Schemes (Tax) Regulations 2025 (S.I. 2025/200), regs. 1(2), 56(3) (with reg. 63)
Word in s. 270IC(4) omitted (19.3.2025) by virtue of The Co-ownership Contractual Schemes (Tax) Regulations 2025 (S.I. 2025/200), regs. 1(2), 56(3) (with reg. 63)