# Income Tax (Trading and Other Income) Act 2005, Section 321: Mutual business


(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 person's property business even if a relationship of mutuality exists between that person and another.

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Source: https://www.legislation.gov.uk/ukpga/2005/5/section/321 (the official version)
Page: https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-321
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.