Section 783BI | Deductible amount: splitting of property allowance

(1)This section applies where the individual's relevant property income for the tax year consists of the relievable receipts of two relevant property businesses.

(2)The references in section 783BH to the deductible amount are to amounts which, in total, equal the individual's property allowance for the tax year.

(3)The question of how to allocate the individual's property allowance for the tax year for the purposes of subsection (2) is to be decided by the individual, subject to subsection (4).

(4)The deductible amount in respect of a relevant property business must not be such as to result in a loss of the business.