Part 13Tax avoidance

Chapter 3Transactions in land

Interpretation

772Interpretation of Chapter

(1)

In this Chapter “capital”, in relation to a gain, means that the gain does not fall to be included in any calculation of income for F1purposes of the Tax Acts otherwise than as a result of F2Part 18 of CTA 2010 (transactions in land) or this Chapter.

(2)

In this Chapter references to property deriving its value from land include—

(a)

any shareholding in a company deriving its value directly or indirectly from land,

(b)

any partnership interest deriving its value directly or indirectly from land,

(c)

any interest in settled property deriving its value directly or indirectly from land, and

(d)

any option, consent or embargo affecting the disposition of land.

(3)

In this Chapter—

“company” includes any body corporate, and

“share” includes stock.