Section 202 — Corporation Tax Act 2009: Overview of Part

Overview of Part 202 1 Chapter 2 contains definitions relevant to the application of the Part.

2 Chapter 3 applies the charge to corporation tax on income to the profits of a UK property business or an overseas property business and contains basic rules about the calculation of the profits of such a property business.

3 Chapter 4 provides for certain amounts of a capital nature to be brought into account as receipts in calculating the profits of a property business.

4 Chapter 5 contains additional rules about the calculation of the profits of a property business. 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6 Chapters 7, 8 and 9 apply the charge to corporation tax on income to—

a rent receivable in connection with a UK section 39(4) concern, b rent receivable for UK electric-line wayleaves, and c post-cessation receipts arising from a UK property business, and contain related rules.

7 Chapter 10 contains supplementary provisions including—

a rules that give priority to provisions outside this Part in relation to certain matters that fall within it, and b rules that give priority to one Chapter of this Part in relation to certain matters that fall both within it and another Chapter of this Part.

8 This Part needs to be read with Parts 19 (general exemptions) and 20 (general calculation rules).