Commentary

B6.501 ITTOIA 2005, s 12(4) and CTA 2009, s 39(4) concerns

Business tax
Business tax | Commentary

B6.501 ITTOIA 2005, s 12(4) and CTA 2009, s 39(4) concerns

Business tax | Commentary

Division B6.5     Rent receivable from certain concerns

Divisions B6.5 prepared by
KEITH GORDON MA (Oxon), ACA, CTA,

Barrister, Atlas Chambers

For updates affecting this Division please see Part B0 Updates

Rent receivable from mines, quarries etc.

B6.501 ITTOIA 2005, s 12(4) and CTA 2009, s 39(4) concerns

ITTOIA 2005, s 12 and CTA 2009, s 39 provide that profits arising from land in respect of certain concerns (for example, mines, quarries, etc) should be taxed as if they were from trades even though the source of the profits is land (and therefore ought to come within the scope of ITTOIA 2005 (ss 260–364) Pt 3 or CTA 2009 (ss 202–291) Pt 4 (property income)) (see B5.651). The list of these concerns is found in ITTOIA 2005, s 12(4) and CTA 2009, s 39(4) and hence the legislation refers to them as 's 12(4) concerns' or 's 39(4) concerns'. These concerns comprise:

  1.  

    (1)     mines and quarries, including gravel pits, sand pits and brickfields;

  2.  

    (2)     ironworks, gasworks, salt springs or works, alum

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