(1)Business is not property rental business so far as it gives rise to income of a class listed in the table in subsection (2).
[F1(1A)But see section 549A which treats income falling within class 7 of the table as profits of property rental business.]
(2)This is the table—
| Class | Description |
|---|---|
| Class 1 | All income in connection with the operation of a caravan site, if section 20(1) of ITTOIA 2005 (caravan sites) would apply in respect of any receipts in connection with the operation of the site. |
| Class 2 | Rent in respect of an electric-line wayleave. |
| Class 3 | Rent in respect of the siting of a pipeline for gas. |
| Class 4 | Rent in respect of the siting of a pipeline for oil. |
| Class 5 | Rent in respect of the siting of a mast or similar structure designed for use in a mobile telephone network or other system of electronic communication. |
| Class 6 | Rent in respect of the siting of a wind turbine. |
| Class 7 | Dividends from shares in— (a) the principal company of a group UK REIT, or (b) a company UK REIT. |
| Class 8 | Income arising out of an interest in a limited liability partnership where section 1273(4) of CTA 2009 (winding up) applies. |
[F2(2A)The reference in class 7 of the table in subsection (2) to dividends from shares includes share capital issued in lieu of a cash dividend (and the reference in subsection (1) to income is to be read accordingly).
(2B)Section 1051(2) to (4) (meaning of “share capital issued in lieu of a cash dividend”) applies for the purposes of subsection (2A) as it applies for the purposes of section 1049(1)(a).]
(3)The Commissioners for Her Majesty's Revenue and Customs may by regulations—
(a)add a class to the table in subsection (2),
(b)amend a class (or provision made in relation to it) or make such provision in relation to a class as the Commissioners consider appropriate, or
(c)remove a class from the table (or provision made in relation to it).
Textual Amendments
F1S. 605(1A) inserted (17.7.2013) by Finance Act 2013 (c. 29), Sch. 19 para. 11
F2S. 605(2A)(2B) inserted (with effect in accordance with Sch. 4 para. 12 of the amending Act) by Finance (No. 3) Act 2010 (c. 33), Sch. 4 para. 11