PIM1025 | Introduction: What is an overseas property business?

The definition of an ‘overseas property business’ is identical to the definition of a ‘UK property business’ (See PIM1020) except that the land from which the income arises is outside the UK. An overseas property business is a separate business from a UK property business.

The legislation Is contained in section 265 of the Income Tax (Trading and Other Income) Act 2005 (for taxpayers in charge to income tax) and section 206 of the Corporation Tax Act 2009 (for taxpayers in charge to corporation tax).

Please also see PIM4700 onwards for more details.