Part 4Loss relief
C1Chapter 4Property losses
UK property businesses
65UK furnished holiday lettings business treated as trade
1
This section applies if a company carries on a UK furnished holiday lettings business.
2
“UK furnished holiday lettings business” means a UK property business so far as it consists of the commercial letting of furnished holiday accommodation (within the meaning of Chapter 6 of Part 4 of CTA 2009).
3
For the purposes of this Part F2 (but as modified below) the company is treated as carrying on a single trade—
a
which consists of every commercial letting of furnished holiday accommodation comprised in the company's UK furnished holiday lettings business, and
b
in relation to which the profits are chargeable to corporation tax under Chapter 2 of Part 3 of CTA 2009.
4
F3... sections 62 to 64 apply in relation to the company's UK property business as if the lettings mentioned in subsection (3)(a) were not included in it.
F14A
Chapter 2 applies as if sections 37 to 44 and 48 to 54 were omitted.
5
If there is a letting of accommodation only part of which is furnished holiday accommodation, just and reasonable apportionments are to be made for the purpose of determining what is comprised in the trade treated as carried on.
Pt. 4 Ch. 4 excluded (with effect in accordance with s. 148 of the amending Act) by Finance Act 2012 (c. 14), s. 87(2)(3) (with s. 147, Sch. 17)