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).