Part 18Transactions in land

Charge to tax on gains from transactions in land

819Gains obtained from land disposals in some circumstances

1

This section applies to a gain if—

a

any of the conditions specified in subsection (2) is met as respects land,

b

the gain is a gain of a capital nature obtained from the disposal of all or part of the land,

c

all or part of the land is situated in the United Kingdom, and

d

a person within section 820(1)(a), (b) or (c) obtains the gain.

2

The conditions are that—

a

the land is acquired with the sole or main object of realising a gain from disposing of all or part of the land,

b

any property deriving its value from the land is acquired with the sole or main object of realising a gain from disposing of all or part of the land,

c

the land is held as trading stock, and

d

the land is developed with the sole or main object of realising a gain from disposing of all or part of the land when developed.

3

It does not matter for the purposes of this section whether the person within section 820(1)(a), (b) or (c) obtains the gain for that person or another person.

4

For the purposes of this section, if, for example by a premature sale, a person (“A”) directly or indirectly transmits the opportunity of realising a gain to another person (“B”), A obtains B's gain for B.

5

For the meaning of “another person”, see section 825.