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.