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Corporation Tax Act 2010
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Changes over time for: Section 65
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- 01/04/2010- Amendment
- 19/07/2011- Amendment
- 16/11/2017- Amendment
- 01/04/2018
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Corporation Tax Act 2010, Section 65 is up to date with all changes known to be in force on or before 03 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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65UK furnished holiday lettings business treated as tradeU.K.
This section has no associated Explanatory Notes
(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 [F1 (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)F2... 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.
[F3(4A)Chapter 2 applies as if the following were omitted—
(a)sections 37 to 44,
(b)the words “beginning before 1 April 2017” in section 45(1),
(c)sections 45A to 45H, and
(d)sections 48 to 54.
(4B)Any deduction made under section 45(4)(b) from the profits of the trade treated as carried on under this section is to be ignored for the purposes of section 269ZB (restriction on deductions from trading profits).]
(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.
Textual Amendments
F1Words in s. 65(3) inserted (with effect in accordance with Sch. 14 para. 9 of the amending Act) by Finance Act 2011 (c. 11), Sch. 14 para. 8(2)(a)
F2Word in s. 65(4) omitted (with effect in accordance with Sch. 14 para. 9 of the amending Act) by virtue of Finance Act 2011 (c. 11), Sch. 14 para. 8(2)(b)
F3S. 65(4A)(4B) substituted for s. 65(4A) (with effect in accordance with Sch. 4 para. 190 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 4 para. 155(2)
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