Part 4Property income
Chapter 5Profits of property businesses: other rules about receipts and deductions
Apportionments on sale of land
259Nature of item apportioned on sale of estate or interest in land
1
This section applies if—
a
a company sells an estate or interest in land,
b
on the sale a part of a receipt or outgoing in respect of the estate or interest is apportioned to the seller, and
c
the receipt or outgoing is receivable or to be paid by the buyer after the apportionment is made.
2
In calculating the profits of the seller's property business, the part apportioned is treated as being of the same nature as the receipt or outgoing.