Part 4

Property income
Chapter 5

Profits of property businesses: other rules about receipts and deductions

Mutual business

Mutual business
260
1
Nothing in this Part is to be read as applying the rules relating to mutual business to property businesses.
2
Accordingly, receipts and expenses are to be brought into account in calculating the profits of a company's property business even if a relationship of mutuality exists between that company and another person.
3
Nothing in this section affects the operation of Chapter 7 of Part 13 of CTA 2010 (co-operative housing associations).
Words in s. 260(3) 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. 601 (with Sch. 2)