Income Tax (Trading and Other Income) Act 2005 (c. 5)

Part 2 U.K. Trading income

Chapter 2 U.K. Income taxed as trade profits

Charge to tax on trade profits U.K.

[F1 6B Trade of dealing in or developing UK land U.K.

(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.]

Textual Amendments

F1 Ss. 6A, 6B inserted (with effect in accordance with s. 82 of the amending Act) by Finance Act 2016 (c. 24), s. 78(2) (and also with effect in accordance with Finance (No. 2) Act 2017 (c. 32), s. 39(1)(2))