Part 13

Other special types of company etc
Chapter 8

Self-build societies

Exemption for gains on disposals of land to members
652
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.