Section 1270 — Corporation Tax Act 2009: Special provisions about farming and property income

Special provisions about farming and property income 1270 1 The rule in section 36(2) (farming trades) operates in relation to firms so that—

a all farming in the United Kingdom which a firm carries on, other than farming carried on as part of another trade, is treated as one trade, but b the farming carried on by a firm which is treated as one trade is not included in any farming trade of any partner in the firm.

2 Section 205 (UK property business) operates in relation to firms so that—

a every business and transaction mentioned in that section carried on, or entered into, by a firm constitutes the firm's UK property business, but b each business or transaction included in the firm's UK property business is not included in any UK property business of any partner in the firm.

3 Section 206 (overseas property business) operates in relation to firms so that—

a every business and transaction mentioned in that section carried on, or entered into, by a firm constitutes the firm's overseas property business, but b each business or transaction included in the firm's overseas property business is not included in any overseas property business of any partner in the firm.