Part 3 U.K. Property income

Chapter 6 U.K. Commercial letting of furnished holiday accommodation

Separate profit calculations U.K.

[F1 328B Relevant UK earnings for pension purposes: overseas property business U.K.

(1) If an overseas property business consists of both—

(a) the commercial letting of furnished holiday accommodation in one or more EEA states (“the EEA furnished holiday lettings part”), and

(b) other businesses or transactions,

this section requires a separate calculation to be made of the profits of the EEA furnished holiday lettings part.

(2) The calculation must be made if the profits of the EEA furnished holiday lettings part are relevant UK earnings within section 189(2)(bb) of FA 2004.

(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.]

Textual Amendments

F1 Ss. 328A, 328B inserted (with effect in accordance with Sch. 14 para. 4 of the amending Act) by Finance Act 2011 (c. 11), Sch. 14 para. 2(8)