IntroductionU.K.
264Overview of ChapterU.K.
(1)This Chapter explains for the purposes of this Part what is meant by the commercial letting of furnished holiday accommodation (see sections 265 to 268).
(2)It matters whether a UK property business consists of or includes the commercial letting of furnished holiday accommodation for the purposes of—
[F1(za)section 250A (replacement domestic items relief: see subsection (7)),]
[F2(a)Chapter 4 of Part 4 of CTA 2010 (relief for property business losses: see section 65 of that Act),]
(b)certain provisions of TCGA 1992 (see section 241 of that Act), and
(c)CAA 2001 (see, for example, sections 248 and 249 of that Act).
[F3(2A)It matters whether an overseas property business consists of or includes the commercial letting of furnished holiday accommodation in one or more EEA states for the purposes of—
[F4(za)section 250A (replacement domestic items relief: see subsection (7)),]
(a)Chapter 4 of Part 4 of CTA 2010 (relief for property business losses: see section 67A of that Act),
(b)certain provisions of TCGA 1992 (see section 241A of that Act), and
(c)CAA 2001 (see, for example, sections 250 and 250A of that Act).]
(3)This Chapter also supplements [F5the provisions mentioned in subsection (2)] by providing in certain circumstances for the profits of the furnished holiday lettings part of a UK property business to be calculated separately (see section 269).
[F6(4)This Chapter also supplements the provisions mentioned in subsection (2A) by providing in certain circumstances for the profits of the EEA furnished holiday lettings part of an overseas property business to be calculated separately (see sections 250 and 250A).]
Textual Amendments
F1S. 264(2)(za) inserted (with effect in accordance with s. 73(8)(9) of the amending Act) by Finance Act 2016 (c. 24), s. 73(7)
F2S. 264(2)(a) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 602 (with Sch. 2)
F3S. 264(2A) 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(2)(a)
F4S. 264(2A)(za) inserted (with effect in accordance with s. 73(8)(9) of the amending Act) by Finance Act 2016 (c. 24), s. 73(7)
F5Words in s. 264(3) substituted (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(2)(b)
F6S. 264(4) 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(2)(c)