Corporation Tax Act 2009
Sections and provisions with full text and the judgments that cite each one.
Section 243 — Rules for determining effective duration of lease
Rules for determining effective duration of lease 243 1 The following rules apply for determining the effective duration of a lease for the purposes of this Chapter. Rule 1: If— a the terms of the…
Section 244 — Applying the rules in section 243
Applying the rules in section 243 244 1 The rules in section 243 apply by reference to the facts known or ascertainable— a at the time of the grant of the lease, or b if the determination is for the…
Section 245 — Information about effective duration of lease
Information about effective duration of lease 245 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 246 — Provisions about premiums
Provisions about premiums 246 1 For the purposes of this Chapter, the presumption is that a sum paid on or in connection with the granting of a tenancy has been paid by way of premium. 2 This does…
Section 247 — Interpretation
Interpretation 247 1 In this Chapter “ premium ” includes any similar sum payable to the immediate or a superior landlord or to a person connected with such a person. 2 In subsection (1) “ sum ”…
Section 248 — Furnished lettings
Furnished lettings 248 1 In calculating the profits of a property business which consists of or includes a furnished letting— a any sum payable for the use of furniture is brought into account as a…
Section 248A — Wear and tear allowance: election
Wear and tear allowance: election 248A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 248B — Meaning of “eligible” in relation to a dwelling-house
Meaning of “eligible” in relation to a dwelling-house 248B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 248C — Effect of wear and tear allowance election
Effect of wear and tear allowance election 248C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 249 — Acquisition of business: receipts from transferor's UK property business
Acquisition of business: receipts from transferor's UK property business 249 1 This section applies if— a a person (“ the transferor ”) permanently ceased to carry on a UK property business…
Section 250 — Reverse premiums
Reverse premiums 250 1 This section applies if— a a company receives a reverse premium, and b the reverse premium is not brought into account under section 98(2) in calculating the profits of any…
Section 250A — Replacement domestic items relief
Replacement domestic items relief 250A 1 This section applies if conditions A to D are met. 2 Condition A is that a company (“C”) carries on a property business in relation to land which consists of…
Section 251 — Deduction for expenditure on energy-saving items
Deduction for expenditure on energy-saving items 251 1 This section applies if— a a company carries on a property business in relation to land which consists of or includes a dwelling-house, b the…
Section 252 — Restrictions on relief
Restrictions on relief 252 1 This section restricts deductions that would otherwise be allowable under section 251. 2 No deduction is allowed if, when the energy-saving item is installed, the…
Section 253 — Regulations
Regulations 253 1 In relation to any deduction under section 251, the Treasury may make regulations for— a restricting or reducing the amount of expenditure for which the deduction is allowable, b…
Section 254 — Deduction for expenditure on sea walls
Deduction for expenditure on sea walls 254 1 This section applies if in a tax year a person — a is the owner or tenant of any premises, and b incurs expenditure in making a sea wall or other…
Section 255 — Transfer of interest in premises
Transfer of interest in premises 255 1 This section applies if, during the deduction period, the whole of the person's interest in the premises or in any part of them is transferred, whether by…
Section 256 — Ending of lease of premises
Ending of lease of premises 256 1 If a person's interest in the premises is a lease that comes to an end before the end of the deduction period, the interest is treated as if transferred to the…
Section 257 — Transfer involving person within the charge to income tax
Transfer involving person within the charge to income tax 257 1 This section explains how section 255 works if— a the transferor is a company within the charge to corporation tax and the transferee…
Section 258 — Relief in respect of mineral royalties
Relief in respect of mineral royalties 258 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 259 — Nature of item apportioned on sale of estate or interest in land
Nature of item apportioned on sale of estate or interest in land 259 1 This section applies if— a a company sells an estate or interest in land, b on the sale a part of a receipt or outgoing in…
Section 260 — Mutual business
Mutual business 260 1 Nothing in this Part is to be read as applying the rules relating to mutual business to property businesses. 2 Accordingly, receipts and expenses are to be brought into account…
Section 261 — Adjustment on change of basis
Adjustment on change of basis 261 1 Section 262 applies if— a a company carrying on a UK property business changes, from one period of account to the next, the basis on which profits of the business…
Section 262 — Giving effect to positive and negative adjustments
Giving effect to positive and negative adjustments 262 1 An amount by way of adjustment must be calculated in accordance with section 182, which applies in relation to a UK property business as it…
Section 263 — Expenditure on integral features
Expenditure on integral features 263 Section 33A(3) of CAA 2001 provides that no deduction is allowed in respect of certain expenditure on an integral feature of a building or structure (within the…
Section 264 — Overview of Chapter
Overview of Chapter 264 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 265 — Meaning of “commercial letting of furnished holiday accommodation”
Meaning of “commercial letting of furnished holiday accommodation” 265 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 266 — Meaning of “relevant period” in sections 267 and 268
Meaning of “relevant period” in sections 267 and 268 266 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 267 — Meaning of “qualifying holiday accommodation”
Meaning of “qualifying holiday accommodation” 267 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 268 — Under-used holiday accommodation: averaging elections
Under-used holiday accommodation: averaging elections 268 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 268A — Under-used holiday accommodation: letting condition not met
Under-used holiday accommodation: letting condition not met 268A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 269 — Capital allowances and loss relief: UK property business
Capital allowances and loss relief: UK property business 269 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 269A — Capital allowances and loss relief: overseas property business
Capital allowances and loss relief: overseas property business 269A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 270 — Charge to tax on rent receivable in connection with a UK section 39(4) concern
Charge to tax on rent receivable in connection with a UK section 39(4) concern 270 The charge to corporation tax on income applies to rent receivable in connection with a UK section 39(4) concern.
Section 271 — Meaning of “rent receivable in connection with a UK section 39(4) concern”
Meaning of “rent receivable in connection with a UK section 39(4) concern” 271 1 For the purposes of this Chapter rent is receivable in connection with a UK section 39(4) concern if— a it is…
Section 272 — Deduction for management expenses of owner of mineral rights
Deduction for management expenses of owner of mineral rights 272 1 This section applies if in an accounting period— a a company lets a right to work minerals in the United Kingdom, and b the company…
Section 273 — Relief in respect of mineral royalties
Relief in respect of mineral royalties 273 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 274 — Meaning of “mineral lease or agreement” and “mineral royalties”
Meaning of “mineral lease or agreement” and “mineral royalties” 274 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 275 — Extended meaning of “mineral royalties” etc in Northern Ireland
Extended meaning of “mineral royalties” etc in Northern Ireland 275 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 276 — Power to determine what counts as “mineral royalties”
Power to determine what counts as “mineral royalties” 276 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 277 — Charge to tax on rent receivable for a UK electric-line wayleave
Charge to tax on rent receivable for a UK electric-line wayleave 277 The charge to corporation tax on income applies to rent receivable for a UK electric-line wayleave.
Section 278 — Meaning of “rent receivable for a UK electric-line wayleave”
Meaning of “rent receivable for a UK electric-line wayleave” 278 1 For the purposes of this Chapter rent is receivable for a UK electric-line wayleave if— a it is receivable in respect of an…
Section 279 — Extent of charge to tax
Extent of charge to tax 279 1 Rent receivable for a UK electric-line wayleave is not chargeable to tax under this Chapter for an accounting period if— a a company carries on a UK property business in…
Section 280 — Charge to tax on post-cessation receipts
Charge to tax on post-cessation receipts 280 The charge to corporation tax on income applies to post-cessation receipts arising from a UK property business.
Section 281 — Extent of charge to tax
Extent of charge to tax 281 1 A post-cessation receipt is chargeable to tax under this Chapter only so far as the receipt is not otherwise chargeable to corporation or income tax. 2 Accordingly, a…
Section 282 — Basic meaning of “post-cessation receipt”
Basic meaning of “post-cessation receipt” 282 1 In this Chapter “ post-cessation receipt ” means a sum— a which is received after a person permanently ceases to carry on a UK property business, and b…
Section 283 — Other rules about what counts as a “post-cessation receipt”
Other rules about what counts as a “post-cessation receipt” 283 1 Section 284 (transfer of rights if transferee does not carry on UK property business) treats certain amounts as being, or not being,…
Section 284 — Transfer of rights if transferee does not carry on UK property business
Transfer of rights if transferee does not carry on UK property business 284 1 This section applies if— a a company (“ the transferor ”) permanently ceases to carry on a UK property business, b the…
Section 285 — Allowable deductions
Allowable deductions 285 Sections 196 and 197 apply for the purposes of this Chapter as they apply for the purposes of Chapter 15 of Part 3 (but as if any reference to a trade were to a UK property…
Section 286 — Election to carry back
Election to carry back 286 Sections 198 to 200 apply for the purposes of this Chapter as they apply for the purposes of Chapter 15 of Part 3 (but as if any reference to a trade were to a UK property…