Explanatory Notes

Corporation Tax Act 2010

2010 CHAPTER 4

3 March 2010

Introduction

Part 12: Real Estate Investment Trusts

Chapter 5: Assets etc
Section 544: Meaning of “property profits” and “property financing costs”

1711.This section defines “property profits” and “property financing costs” for the purposes of section 543. It is based on sections 115(2) and (4), 120(1) and 134(1) of, and paragraphs 3 and 14 of Schedule 17 to, FA 2006.

1712.Subsections (1) and (3) define “property profits” and “property financing costs” respectively for the purposes of section 543.