Part 4Real Estate Investment Trusts

Introduction

104Property rental business

1

In this Part “property rental business” means business that is or forms part of—

a

a Schedule A business (within the meaning of section 832(1) of ICTA), or

b

an overseas property business (within the meaning of section 70A(4) of ICTA).

2

But—

a

business of a kind listed in Part 1 of Schedule 16 is not property rental business, and

b

business is not property rental business if or in so far as it gives rise to income or profits of a kind listed in Part 2 of that Schedule.