Income Tax (Trading and Other Income) Act 2005 section 268

Charge to tax on profits of a property business

Section 268 establishes that the profits arising from a property business are subject to income tax.

• Profits from a property business are charged to income tax.
• This applies to both UK property businesses and overseas property businesses.
• The charge covers all profits calculated in accordance with the property income rules.
• This section provides the fundamental basis for taxing rental and other property income.