250 [F1Ordinary overseas] property businessesU.K.
This section has no associated Explanatory Notes
If the qualifying activity of a person who is entitled or liable to an allowance or charge for a chargeable period is an [F2ordinary overseas] property business, the allowance or charge is to be given effect in calculating the profits of that business, by treating—
(a)the allowance as an expense of that business, and
(b)the charge as a receipt of that business.
Textual Amendments
F1Words in s. 250 heading substituted (with effect in accordance with Sch. 14 para. 13 of the amending Act) by Finance Act 2011 (c. 11), Sch. 14 para. 12(13)(a)
F2Words in s. 250 substituted (with effect in accordance with Sch. 14 para. 13 of the amending Act) by Finance Act 2011 (c. 11), Sch. 14 para. 12(13)(b)