Part 4Property income
Chapter 6Commercial letting of furnished holiday accommodation
Separate profit calculations
269Capital allowances and loss F3relief: UK property business
1
If a UK property business consists of both—
a
the commercial letting of furnished holiday accommodation (“the furnished holiday lettings part”), and
b
other businesses or transactions (“the other part”),
this section requires separate calculations to be made of the profits of the furnished holiday lettings part and the other part.
2
The calculations must be made if—
a
section 248 or 249 of CAA 2001 (giving effect to allowances and charges) applies to the furnished holiday lettings part or the other part, or
b
c
a wear and tear allowance is allowed in relation to the business under section 248C of this Act.
3
If there is a letting of accommodation only part of which is holiday accommodation, such apportionments are to be made for the purposes of this section as are just and reasonable.