Amendment of Schedule 16 to the Finance Act 20062
In Schedule 16 (excluded business and income) to the Finance Act 2006—
a
for paragraph 3 substitute—
3
1
Letting of property if the property would fall in accordance with generally accepted accounting practice to be described as owner-occupied.
2
For the purpose of sub-paragraph (1), no account shall be taken of the fact that a property may fall to be described as owner-occupied by reason only of the provision of services to an occupant who—
a
is in exclusive occupation of the property, and
b
is not connected with a member of the group (within the meaning given by section 839 of ICTA).