Income Tax (Trading and Other Income) Act 2005 (c. 5)

[F1 PART 6A U.K. Income charged under this Act: trading and property allowances

Textual Amendments

F1 Pt. 6A inserted (16.11.2017) (with effect in accordance with Sch. 3 para. 13 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 3 para. 1

CHAPTER 2 U.K. Property allowance

Exclusions from relief U.K.

783BM Exclusion from relief: expenses deducted against rent-a-room receipts U.K.

(1) No relief under this Chapter is given to an individual for a tax year if—

(a) the individual qualifies for rent-a-room relief for the tax year,

(b) the individual has rent-a-room receipts for the tax year which would, apart from Chapter 1 of Part 7 (rent-a-room relief), be brought into account in calculating the profits of a property business, and

(c) condition A or B is met.

(2) Condition A is that—

(a) the individual's total rent-a-room amount for the tax year does not exceed the individual's limit for the tax year (see section 783BQ), and

(b) an election by the individual under section 799 has effect to disapply full rent-a-room relief for the tax year.

(3) Condition B is that—

(a) the individual's total rent-a-room amount for the tax year exceeds the individual's limit for the tax year, and

(b) no election by the individual under section 800 has effect to apply the alternative method of calculating profits for the tax year.]