Income Tax Act 2007

[F1 Calculation of profit or gain on disposal U.K.

Textual Amendments

F1 Pt. 9A inserted (with effect in relation to disposals on or after 5.7.2016) by Finance Act 2016 (c. 24), s. 79(1), 82(1) (with s. 82(2)-(15)); which insertion also has effect so far as it would not otherwise have effect in accordance with Finance (No. 2) Act 2017 (c. 32), s. 39(1)(2)

517I Calculation of surplus on a disposal of land U.K.

For the purposes of this Part, the profit or gain (if any) from a disposal of any property is to be calculated according to the principles applicable for calculating the profits of a trade under Part 2 of ITTOIA 2005, subject to any modifications that may be appropriate (and for this purpose the same rules are to apply in calculating losses from a disposal as apply in calculating profits).

517J Apportionments U.K.

Any apportionment (whether of expenditure, consideration or any other amount) that is required to be made for the purposes of this Part is to be made on a just and reasonable basis.]