Property allowance: contents: exclusions from relief: close companies
No relief is due to an individual if the individual has relevant property income for the tax year and the income includes a payment made by, or on behalf of, a close company at a time when the individual is either:
a participator in the close company, or
an associate of a participator in the close company.
The terms above have the same definitions as set out in Part 10 of CTA 2010.
For further information see CTM60000 Company Taxation Manual.