The problem over the ownership of overseas properties by limited companies for local legal reasons was recognised by the UK Government in FA 2008 which introduced ITEPA 2003, s. 100A and 100B. These provisions are designed to ensure that benefits in kind do not arise in certain circumstances. It was felt necessary to introduce this concession following the growth in the ownership of overseas properties in this way and the implications of the existing case law, specifically Regina v Dimsey & Allen. This exempting legislation is designed to apply to holiday homes generally whereas our subject is the narrower one of commercially let properties.

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