Corporation Tax Act 2010 (c. 4)

Part 13 U.K. Other special types of company etc

Chapter 8 U.K. Self-build societies

652 Exemption for gains on disposals of land to members U.K.

(1) This section applies if—

(a) chargeable gains accrue to a self-build society on a disposal of land to a member of the society,

(b) the gains accrue in an accounting period or part of an accounting period during which the society was approved for the purposes of this Chapter, and

(c) the society makes a claim under this section for that period or part of a period.

(2) No liability to corporation tax arises in respect of the gains.