79 Income tax: transactions in UK land
Finance Act 2016 (2016 c 24) | Legislation

79  Income tax: transactions in UK land

(1)     In ITA 2007, after Part 9 insert—

“Part 9A
Transactions in UK Land

Introduction

517A Overview of Part

This Part contains provision about the income tax treatment of certain profits and gains realised from disposals concerned with land in the United Kingdom.

Amounts treated as profits of a trade

517B Disposals of land in the United Kingdom

(1)     Section 517C(1) applies (subject to subsection (3) of that section) if—

(a)     a person within subsection (2)(a), (b) or (c) realises a profit or gain from a disposal of any land in the United Kingdom, and

(b)     any of conditions A to D is met in relation to the land.

(2)     The persons referred to in subsection (1) are—

(a)     the person acquiring, holding or developing the land,

(b)     a person who is associated with the person in paragraph (a) at a relevant time, and

(c)     a person who is a party to, or concerned in, an arrangement within subsection (3).

(3)     An arrangement is within this subsection if—

(a)     it is effected with respect to all or part of the land, and

(b)     it enables a profit or gain to be realised—

(i)

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