Introduction
752Overview of Chapter
(1)This Chapter has effect for the purpose of preventing the avoidance of income tax by persons concerned with land or the development of land.
(2)This Chapter imposes a charge to income tax in some circumstances where gains of a capital nature are obtained from disposing of land.
753Meaning of disposing of land
(1)For the purposes of this Chapter land is disposed of if the property in the land or control over the land is effectively disposed of—
(a)by one or more transactions, or
(b)by any arrangement or scheme.
(2)It does not matter for the purposes of subsection (1) if the transactions, arrangement or scheme concern—
(a)the land, or
(b)property deriving its value from the land (see section 772(2)).
(3)See also—
section 761 (transactions, arrangements, sales and realisations relevant for this Chapter), and
section 762 (tracing value).
754Priority of other income tax provisions
This Chapter has effect subject to—
(a)Chapter 5 of Part 5 of ITTOIA 2005 (settlements: amounts treated as income of settlor), and
(b)any other provision of the Tax Acts treating income as belonging to a particular person.