Corporation Tax Act 2009 section 209

Charge to tax on profits of a property business

Section 209 establishes that the profits of a property business are subject to corporation tax on income.

• Corporation tax on income applies to the profits of a property business carried on by a company.
• A property business includes both UK property businesses and overseas property businesses.
• The charge applies to the overall profits of the property business, not to individual properties or lettings separately.
• This provision brings property income within the corporation tax framework in the same way as trading income.