Section 202 | Overview of Part

(1)Chapter 2 contains definitions relevant to the application of the Part.

(2)Chapter 3 applies the charge to corporation tax on income to the profits of a UK property business or an overseas property business and contains basic rules about the calculation of the profits of such a property business.

(3)Chapter 4 provides for certain amounts of a capital nature to be brought into account as receipts in calculating the profits of a property business.

(4)Chapter 5 contains additional rules about the calculation of the profits of a property business.

(5)Repealed

(6)Chapters 7, 8 and 9 apply the charge to corporation tax on income to—

(a)rent receivable in connection with a UK section 39(4) concern,

(b)rent receivable for UK electric-line wayleaves, and

(c)post-cessation receipts arising from a UK property business,

and contain related rules.

(7)Chapter 10 contains supplementary provisions including—

(a)rules that give priority to provisions outside this Part in relation to certain matters that fall within it, and

(b)rules that give priority to one Chapter of this Part in relation to certain matters that fall both within it and another Chapter of this Part.

(8)This Part needs to be read with Parts 19 (general exemptions) and 20 (general calculation rules).