Part 3Property income

Chapter 6Commercial letting of furnished holiday accommodation

Separate profit calculations

327F2Relief: UK property business

1

If a UK property business consists of both—

a

the commercial letting of furnished holiday accommodation (“the furnished holiday lettings part”), and

b

other businesses or transactions (“the other part”),

this section requires separate calculations to be made of the profits of the furnished holiday lettings part and the other part.

2

The calculations must be made if—

a

section 248 or 249 of CAA 2001 (giving effect to allowances and charges) applies to the furnished holiday lettings part or the other part, or

b

any provision of F1Part 4 of ITA 2007 (loss relief) applies in relation to a loss made in either of those parts,F3...

F3c

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3

If there is a letting of accommodation only part of which is holiday accommodation, such apportionments are to be made for the purposes of this section as are just and reasonable.