Part 4 Chargeable Gains
Finance Act 2011 (2011 c 11) | Legislation

Part 4 Chargeable Gains

TCGA 1992

14

(1)     TCGA 1992 is amended as follows.

(2)     In section 241 (furnished holiday lettings)—

(a)     in the heading, for “Furnished†substitute “UK furnishedâ€,

(b)     in subsection (3A), omit “Schedule 6 (retirement relief etc)â€, and

(c)     in subsection (4), after “furnished holiday accommodation†insert “in the United Kingdomâ€.

(3)     After that section insert—

“241A EEA furnished holiday lettings

(1)     The following provisions of this section shall have effect with respect to the treatment for the purposes of tax on chargeable gains of the commercial letting of furnished holiday accommodation in EEA states other than the United Kingdom.

(2)     For the purposes of this section as it applies to capital gains tax, the “commercial letting of furnished holiday accommodation†has the same meaning as it has for the purposes of Chapter 6 of Part 3 of ITTOIA 2005.

(3)     For the purposes of this section as it applies to corporation tax in respect of chargeable gains, the “commercial letting of furnished holiday accommodation†has the same meaning as it has for the purposes of Chapter 6 of Part 4 of CTA 2009.

(4)     Subject to subsections (6)

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