Introduction Details of the Sections Section 133 – Property rental businesses
202.Subsection (1) states that a day is a relievable day for a single-dwelling interest where it is being exploited as a source of rents or other receipts in a qualifying property rental business, or steps are being taken to secure that it will be exploited without undue delay.
203.Subsection (2) provides that a day is not a relievable day if a non-qualifying person is permitted to occupy the dwelling.
204.Subsection (3) defines a “qualifying property business” as a property rental business that is conducted on a commercial basis and with a view to profit. .
205.Subsection (4) defines a “property rental business” as a property business as defined in CTA 2009, whether or not it is liable to corporation tax on profits of that business.
206.Subsection (5) specifies that delay caused by commercial considerations or which cannot be avoided can be ignored in determining whether the company is taking steps to exploit the dwelling without undue delay.
207.Subsection (6) defines “excluded rents”.