Section 605 | Property rental business: exclusion of business producing listed income
From legislation.gov.uk
(1)Business is not property rental business so far as it gives rise to income of a class listed in the table in subsection (2).
(1A)But see section 549A which treats income falling within class 7 of the table as profits of property rental business.F1
(2)This is the table—
| Class | Description |
|---|---|
| Class 1 | All income in connection with the operation of a caravan site, if section 20(1) of ITTOIA 2005 (caravan sites) would apply in respect of any receipts in connection with the operation of the site. |
| Class 2 | Rent in respect of an electric-line wayleave. |
| Class 3 | Rent in respect of the siting of a pipeline for gas. |
| Class 4 | Rent in respect of the siting of a pipeline for oil. |
| Class 5 | Rent in respect of the siting of a mast or similar structure designed for use in a mobile telephone network or other system of electronic communication. |
| Class 6 | Rent in respect of the siting of a wind turbine. |
| Class 7 | Dividends from shares in—the principal company of a group UK REIT, ora company UK REIT. |
| Class 8 | Income arising out of an interest in a limited liability partnership where section 1273(4) of CTA 2009 (winding up) applies. |
(2A)The reference in class 7 of the table in subsection (2) to dividends from shares includes share capital issued in lieu of a cash dividend (and the reference in subsection (1) to income is to be read accordingly).F2
(2B)Section 1051(2) to (4) (meaning of “share capital issued in lieu of a cash dividend”) applies for the purposes of subsection (2A) as it applies for the purposes of section 1049(1)(a).F2
(3)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).