Section 604 | Property rental business: exclusion of listed business

From legislation.gov.uk

(1)Business of a class listed in the table in subsection (2) is not property rental business.

(2)This is the table—

Table
Class	Description
Class 1	Incidental letting of property (whether in the United Kingdom or elsewhere) which is held in connection with a trade in property.
Class 2	Letting of property which is held for use for administrative purposes in carrying on property rental business but is temporarily surplus to requirements for those purposes, so long as—the space let is small compared to the space occupied for administrative purposes, andthe letting is for a term of not more than 3 years.
Class 3	Letting of property if the property would fall in accordance with generally accepted accounting practice to be described as owner-occupied (but see subsection (3)).
Class 4	The provision of services in connection with property outside the United Kingdom where the services would not fall within Chapter 3 of Part 4 of CTA 2009 if provided in connection with property in the United Kingdom.
Class 5	Entering into arrangements which are such that a finance arrangement code (within the meaning given by section 770(2) of this Act or section 809BZM(2) of ITA 2007) applies (factoring of income etc: finance arrangements).

(3)For the purposes of class 3, ignore the fact that a property may fall to be described as owner-occupied merely because of the provision by the company of services to an occupant who—

(a)is in exclusive occupation of the property, and

(b)is not connected with a member of the group.

(4)The Commissioners for Her Majesty's Revenue and Customs may by regulations—

(a)add a class to the table in subsection (2),

(b)amend a class (or provision made in relation to it) or make such provision in relation to a class as the Commissioners consider appropriate, or

(c)remove a class from the table (or provision made in relation to it).