Corporation Tax Act 2009 (c. 4)

Part 4 U.K. Property income

Chapter 3 U.K. Profits of property businesses: basic rules

Calculation of profits U.K.

212 Items treated as receipts and expenses U.K.

The rules for calculating the profits of a property business need to be read with—

(a) the provisions of CAA 2001 which treat allowances as expenses of a property business,

(b) the provisions of CAA 2001 which treat charges as receipts of a property business, and

(c) section 748 (credits and debits in respect of an intangible fixed asset held by a company for the purposes of a property business carried on by it treated as receipts and expenses of the business).