For the purposes of the UK-REIT regime, property rental business is defined at section 104 FA 2006 as:

business that is or forms part of

(1)

(1)a UK property business (within the meaning of section 205 CTA 2009), or

(1)an overseas property business (within the meaning of section 206 CTA 2009)

subject to specified exclusions listed in Schedule 16 FA 2006.

This limits ‘property rental business’ to the generation of income from land etc for rent (as follows from the definition in section 207 CTA 2009 ) and thus excludes income arising as a result of the occupation of land, which is not chargeable as property business income.

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