Corporation Tax Act 2009 section 207

Meaning of "generating income from land"

Section 207 defines what "generating income from land" means for the purposes of the property business rules, covering rents, other receipts, and certain specific situations such as caravans and houseboats.

• Generating income from land means exploiting an estate, interest or right in or over land as a source of rents or other receipts
• Rents include payments made by a tenant for maintenance or repair work on leased premises that the lease does not require the tenant to carry out
• Other receipts include licence fees to occupy or use land, payments for exercising rights over land, and rentcharges or other annual payments reserved against or charged on land
• A right to use a caravan or houseboat at a single fixed location is treated as a right deriving from an estate or interest in land