Part 2Trading income

Chapter 2Income taxed as trade profits

Charge to tax on trade profits

6BF1Trade of dealing in or developing UK land

1

A non-UK resident person's “trade of dealing in or developing UK land” consists of —

a

any activities falling within subsection (2) which the person carries on, and

b

any activities from which profits arise which are treated under Part 9A of ITA 2007 as profits of the person's trade of dealing in or developing UK land.

2

The activities within this subsection are—

a

dealing in UK land;

b

developing UK land for the purpose of disposing of it.

3

In this section “land” includes—

a

buildings and structures,

b

any estate, interest or right in or over land, and

c

land under the sea or otherwise covered by water.

4

In this section—

  • “disposal” is to be interpreted in accordance with section 517R of ITA 2007;

  • “UK land” means land in the United Kingdom.