Corporation Tax Act 2010

819 Gains 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.