562Apportionment where property sold together
(1)Any reference in this Act to the sale of property includes the sale of that property together with any other property.
(2)For the purposes of subsection (1), all property sold as a result of one bargain is to be treated as sold together even though—
(a)separate prices are, or purport to be, agreed for separate items of that property, or
(b)there are, or purport to be, separate sales of separate items of that property.
(3)If an item of property is sold together with other property, then, for the purposes of this Act—
(a)the net proceeds of the sale of that item are to be treated as being so much of the net proceeds of sale of all the property as, on a just and reasonable apportionment, is attributable to that item, and
(b)the expenditure incurred on the provision or purchase of that item is to be treated as being so much of the consideration given for all the property as, on a just and reasonable apportionment, is attributable to that item.
(4)This section applies, with the necessary modifications, to other proceeds (consisting of insurance money or other compensation) as it applies in relation to the net proceeds of a sale.
(5)This section applies in relation to Part 5 as if expenditure on the provision or purchase of an item of property included expenditure on the acquisition of—
(a)a mineral asset (as defined by section 397), or
(b)land outside the United Kingdom.