Section 204 — Corporation Tax Act 2009: Meaning of “property business”

Meaning of “property business” 204 1 In this Act “ property business ” means a UK property business or an overseas property business.

2 References in this Act to a property business are to a property business so far as any profits of the business are chargeable to tax under Chapter 3 (as to which see, in particular, the rules about territorial scope in section 5).

3 Accordingly, nothing in Chapter 4 or 5 is to be read as treating an amount as a receipt of a property business if the profits concerned would not be chargeable to tax under Chapter 3.