Commentary on Sections Overview Chapter 2: Property businesses Section 206: Overseas property business
766.This section defines “overseas property business”. It is based on section 70A of ICTA. The corresponding rule for income tax is in section 265 of ITTOIA.
767.The definition is identical to that of “UK property business” except that the land from which the income arises is outside the United Kingdom..
768.For the purpose of deciding whether there is an overseas property business, overseas land law is interpreted in accordance with section 290.