324Meaning of “relevant period” in sections 325 and 326U.K.
(1)For the purposes of sections 325 and 326 “the relevant period” for accommodation let by a person in a tax year is determined as follows.
(2)If the accommodation was not let by the person as furnished accommodation in the previous tax year, “the relevant period” is 12 months beginning with the first day in the tax year on which it is let by the person as furnished accommodation.
(3)If the accommodation—
(a)was let by the person as furnished accommodation in the previous tax year, but
(b)is not let by the person as furnished accommodation in the following tax year,
“the relevant period” is 12 months ending with the last day in the tax year on which it is let by the person as furnished accommodation.
(4)Otherwise “the relevant period” is the tax year.