Part 4Property income

Chapter 3Profits of property businesses: basic rules

Calculation of profits

214Relationship between rules prohibiting and allowing deductions

1

Any relevant permissive rule in this Part—

a

has priority over any relevant prohibitive rule, but

b

is subject to the following provisions—

i

section 56 (car or motor cycle hire), as applied by section 210,

ii

section 1288 (unpaid remuneration),

iii

section 1290 (employee benefit contributions),

iv

section 1304 (crime-related payments).

2

In this section “any relevant permissive rule in this Part” means any provision of this Part (apart from sections 231 to 234) which allows a deduction in calculating the profits of a property business.

3

In this section “any relevant prohibitive rule”, in relation to any deduction, means any provision of this Part or Chapter 1 of Part 20 (apart from those mentioned in subsection (1)(b)) which might otherwise be read as—

a

prohibiting or deferring the deduction, or

b

restricting the amount of the deduction.

4

In this section any reference to any provision of this Part includes any provision applied by section 210.