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HMRC internal manual

Property Income Manual

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.