363Overseas property businesses and overseas land: adaptation of rules
(1) This section applies if a provision of this Part—
(a) applies to an overseas property business or land outside the United Kingdom, but
(b) is expressed by reference to a domestic concept of law.
(2) In relation to that business or land, the provision is to be read so as to produce the result most closely corresponding with that produced by the provision in relation to a UK property business or land in the United Kingdom.
This Act comes into force on 6 April 2005 and has effect, for the purposes of income tax for the year 2005–06 and subsequent tax years, and for the purposes of corporation tax for accounting periods ending after 5 April 2005: see s 883; for transitional provisions and savings see Sch 2 hereto.
Income Tax Allowances, Deductions & Reliefs96Property Taxes95Company Law & Business Entities92Trusts & Trustees99Savings & Investment Income91Equity & Trusts99Companies & Corporate Bodies92Property Income95Income Tax95Trading Income93Real Property Law95Administration & Collection of Income Tax99International Tax96Tax Law95Personal Taxes95Overseas Elements of Income Tax96