Part 18 Transactions in land

Exemptions

827 Gain attributable to period before intention to develop formed
(1) This section applies if—
(a) income is treated as arising because the condition mentioned in section 819(2)(d) is met (land developed with sole or main object of realising a gain from its disposal when developed), and
(b) part of the income is fairly attributable to a period before the intention to develop was formed.
(2) No liability to corporation tax arises as a result of this Part in respect of that part of the income.
(3) In applying this section account must be taken of the treatment under Part 3 of CTA 2009 (trading income) of a company which appropriates land as trading stock.