Part 4

Property income
Chapter 3

Profits of property businesses: basic rules

Calculation of profits

Items treated as receipts and expenses
212
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).