Corporation Tax Act 2009 section 270

Charge to tax on rent receivable in connection with a UK section 39(4) concern

Section 270 applies the corporation tax charge to rent received by a company in connection with certain types of UK concerns known as "section 39(4) concerns".

• Rent received in connection with a UK section 39(4) concern is subject to corporation tax on income.
• Section 39(4) concerns include mines, quarries, ironworks, gasworks, canals, inland navigations, railways and other kinds of way.
• Losses arising from income charged under this provision follow the general trading loss rules rather than the separate regime for certain other types of income.
• An earlier, redundant charge that previously existed under the old Schedule D Case III rules has been removed as it was unnecessary.