Section 212 | Items treated as receipts and expenses

The rules for calculating the profits of a property business need to be read with—

(a)the provisions of CAA 2001 which treat allowances as expenses of a property business,

(b)the provisions of CAA 2001 which treat charges as receipts of a property business, and

(c)section 748 (credits and debits in respect of an intangible fixed asset held by a company for the purposes of a property business carried on by it treated as receipts and expenses of the business).