Commentary on Sections Overview Overview Section 65: Tenants dealing with land as property employed for purposes of trade
260.This section applies to a tenant which, while not occupying a property, uses the property for the purposes of a trade – for example a company which lets premises held under a taxed lease to a person who sells only goods supplied by that company. It is based on section 87(4) and (6) of ICTA. The corresponding rule for income tax is in section 63 of ITTOIA.
261.Subsection (2) treats the tenant as if it occupied the property, or part of it, for the purposes of relief under section 63.
262.Subsection (3) prevents the tenant obtaining relief under section 63 to the extent that relief for the same day is allowed in calculating the profits of the tenant’s property business under section 232.