42Tied premisesU.K.
(1)This section applies if —
(a)in the course of carrying on a trade a company (“the trader”) supplies, or is concerned in the supply of, goods sold or used on premises occupied by another person,
(b)the trader has an estate or interest in the premises,
(c)the estate or interest is dealt with as property employed for the purposes of the trade, and
(d)receipts and expenses in connection with the premises would otherwise be brought into account in calculating the profits of a property business of the trader.
(2)Both the receipts and the expenses are instead brought into account in calculating the profits of the trade.
(3)Any apportionment of receipts or expenses that is necessary because—
(a)the receipts or expenses do not relate only to the premises, or
(b)the above conditions are met only in relation to part of the premises,
is to be made on a just and reasonable basis.