Part 4Property income

Chapter 6Commercial letting of furnished holiday accommodation

Separate profit calculations

269Capital allowances and loss F1relief: 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 F2Chapter 2, 4 or 6 of Part 4 of CTA 2010 (loss relief) applies in relation to a loss made in either of those parts.F3, or

(c)

a wear and tear allowance is allowed in relation to the business under section 248C of this Act.

(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.