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Finance Act 1984

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This is the original version (as it was originally enacted).

1(1)Subject to the provisions of this Schedule, for the purposes of the provisions mentioned in sub-paragraph (2) below—

(a)the commercial letting of furnished holiday accommodation in respect of which the profits or gains are chargeable under Case VI of Schedule D shall be treated as a trade; and

(b)all such lettings made by a particular person or partnership or body of persons shall be treated as one trade.

(2)The provisions mentioned in sub-paragraph (1) above are—

(a)section 4(2) of the Taxes Act (payment of income tax in two equal instalments);

(b)sections 168 to 175 and 177 to 178 of the Taxes Act and section 30 of the [1978 c. 42.] Finance Act 1978 (relief for losses) ;

(c)subsection (9)(c) of section 226 of the Taxes Act (retirement annuity contracts);

(d)subsection (1)(c) of section 530 of that Act (earned income) ;

(e)Chapter I of Part III of the [1971 c. 68.] Finance Act 1971 (capital allowances) ;

(f)sections 115 to 120 of the [1979 c. 14.] Capital Gains Tax Act 1979 (roll over relief for replacement of business assets) ;

(g)section 124 of that Act (transfer of business on retirement) ;

(h)section 126 of that Act (relief for gifts of business assets);

(i)section 136 of that Act (relief in respect of loans to traders) ; and

(j)section 39 of the [1980 c. 48.] Finance Act 1980 (relief for pre-trading expenditure).

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