Part 18Transactions in land
Charge to tax on gains from transactions in land
819Gains obtained from land disposals in some circumstances
1
This section applies to a gain if—
a
any of the conditions specified in subsection (2) is met as respects land,
b
the gain is a gain of a capital nature obtained from the disposal of all or part of the land,
c
all or part of the land is situated in the United Kingdom, and
d
a person within section 820(1)(a), (b) or (c) obtains the gain.
2
The conditions are that—
a
the land is acquired with the sole or main object of realising a gain from disposing of all or part of the land,
b
any property deriving its value from the land is acquired with the sole or main object of realising a gain from disposing of all or part of the land,
c
the land is held as trading stock, and
d
the land is developed with the sole or main object of realising a gain from disposing of all or part of the land when developed.
3
It does not matter for the purposes of this section whether the person within section 820(1)(a), (b) or (c) obtains the gain for that person or another person.
4
For the purposes of this section, if, for example by a premature sale, a person (“A”) directly or indirectly transmits the opportunity of realising a gain to another person (“B”), A obtains B's gain for B.
5
For the meaning of “another person”, see section 825.