CA11590 - General: Definitions: Property business

CAA01/S577 (1)

In the capital allowance legislation and in this manual a property business is a UK property business or an overseas property business.

A UK property business is:

• every business that a person carries on, and
• any transaction which that person enters into,

for generating income from land in the UK.

An overseas property business is a business whose income arises from rents etc. arising from land outside the UK.

The formal definitions are in ITTOIA05/S264 and CTA09/S205 (UK property business) and ITTOIA05/S265 and CTA09/S206 (overseas property business).