Amendment of Schedule 16 to the Finance Act 2006
This section has no associated Explanatory Memorandum
2. 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).”