# Income Tax Act 2007, Section 511: Prevention of double taxation: reimbursement of settlor


(1) This section applies to income arising from heritage maintenance property if—
(a) the income is treated under Chapter 5 of Part 5 of ITTOIA 2005 as income of the settlor,
(b) the income is applied in reimbursing the settlor for expenditure incurred by the settlor for a property maintenance purpose, and
(c) the expenditure is deductible in calculating the profits of—
(i) a trade, or
(ii) a UK property business,
carried on by the settlor.
(2) Any such income—
(a) is not to be brought into account as a receipt in calculating the profits of that trade or business, and
(b) is not to be treated as income of the settlor otherwise than under Chapter 5 of Part 5 of ITTOIA 2005.

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Source: https://www.legislation.gov.uk/ukpga/2007/3/section/511 (the official version)
Page: https://openlegislation.uk/income-tax-act-2007/section-511
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.