Section 270HB | ... UK property businesses and ... overseas property businesses

From legislation.gov.uk

If the qualifying activity of a person who is entitled to an allowance for a chargeable period is—^F1

(a)a UK property business, or^F1F2

(b)an ... overseas property business,^F1F3

the allowance is to be given effect in calculating the profits of that business by treating the allowance as an expense of that business.

Notes

F1
Pt. 2A inserted (5.7.2019) by The Capital Allowances (Structures and Buildings Allowances) Regulations 2019 (S.I. 2019/1087), regs. 1, 2
F2
Word in s. 270HB(a) substituted (for the purposes of corporation tax, in relation to accounting periods beginning on or after 1.4.2025 and, for the purposes of income tax, in relation to periods of account beginning on or after 6.4.2025) by Finance Act 2025 (c. 8), Sch. 5 paras. 8(17)(b), 12(3) (with Sch. 5 paras. 15, 18, 19)
F3
Word in s. 270HB(b) omitted (for the purposes of corporation tax, in relation to accounting periods beginning on or after 1.4.2025 and, for the purposes of income tax, in relation to periods of account beginning on or after 6.4.2025) by virtue of Finance Act 2025 (c. 8), Sch. 5 paras. 8(17)(c), 12(3) (with Sch. 5 paras. 15, 18, 19)