The ‘new’ Sch. A was introduced for income tax purposes from 6 April 1995 and for corporation tax purposes from 1 April 1998. This introduced the concept of a ‘Schedule A business’. In short, this was a ‘business carried on for the exploitation, as a source of rents or other receipts, of any estate, interest or rights in or over land in the United Kingdom’. Overseas property was subject to assessment under Sch. D, Case V.

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