Commentary

B2.218 Surplus business accommodation

Business tax
Business tax | Commentary

B2.218 Surplus business accommodation

Business tax | Commentary

B2.218 Surplus business accommodation

A trader, including a trading company has the option of bringing receipts and expenses of letting surplus business accommodation into the calculation of trade profits under certain restricted conditions1 (see below). Once this treatment is applied to a letting, it must be continued for so long as the conditions are met2. The conditions are3:

  1.  

    •     the business accommodation must be temporarily surplus to requirements (see below for further details on this condition)

  2.  

    •     the accommodation must not be held as trading stock

  3.  

    •     part of the accommodation must continue to be used in the trade

  4.  

    •    

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial