Section 260 | Mutual business

(1)Nothing in this Part is to be read as applying the rules relating to mutual business to property businesses.

(2)Accordingly, receipts and expenses are to be brought into account in calculating the profits of a company's property business even if a relationship of mutuality exists between that company and another person.

(3)Nothing in this section affects the operation of Chapter 7 of Part 13 of CTA 2010 (co-operative housing associations).