Section 212 — Corporation Tax Act 2009: Items treated as receipts and expenses

Items treated as receipts and expenses 212 The rules for calculating the profits of a property business need to be read with—

a the provisions of CAA 2001 which treat allowances as expenses of a property business, b the provisions of CAA 2001 which treat charges as receipts of a property business, and c section 748 (credits and debits in respect of an intangible fixed asset held by a company for the purposes of a property business carried on by it treated as receipts and expenses of the business).