Income Tax (Trading and Other Income) Act 2005 (c. 5)

Part 3 U.K. Property income

Chapter 12 U.K. Supplementary

363 Overseas property businesses and overseas land: adaptation of rules U.K.

(1) This section applies if a provision of this Part—

(a) applies to an overseas property business or land outside the United Kingdom, but

(b) is expressed by reference to a domestic concept of law.

(2) In relation to that business or land, the provision is to be read so as to produce the result most closely corresponding with that produced by the provision in relation to a UK property business or land in the United Kingdom.

Modifications etc. (not altering text)

C1 Ss. 353-368 modified (7.4.2005) by Finance Act 2005 (c. 7), s. 51(2)