F1PART 4APROPERTY AIFS

Annotations:
Amendments (Textual)

CHAPTER 3THE TAX TREATMENT OF PROPERTY AIFS

Chargeability to tax

Components of income arising to F (residual)69Z2

1

For the purposes of this Part the income arising to F (residual) consists of—

a

distributions qualifying for exemption under section 208 of ICTA, and

b

income arising from the business of F (residual).

2

Section 21A of ICTA (calculation of profits of Schedule A business) shall apply to income arising from the business of F (residual) if and to the extent that income arising from the business of F (residual) is chargeable to corporation tax under Schedule A.