Section 260 Mutual business
United Kingdom
(1)
Nothing in this Part is to be read as applying the rules relating to mutual business to property businesses.
(2)
Accordingly, receipts and expenses are to be brought into account in calculating the profits of a company's property business even if a relationship of mutuality exists between that company and another person.
(3)
Nothing in this section affects the operation of F1Chapter 7 of Part 13 of CTA 2010 (co-operative housing associations).
Annotations
Textual amendments
- F1
Words in s. 260(3) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 601 (with Sch. 2)