62. Transactions in UK land.

Potentially wide-ranging anti-avoidance rules apply to certain profits and gains realised from disposals concerned with land in the United Kingdom1. If a person2 realises a profit or gain from a disposal of any land in the United Kingdom and any of conditions A to D is met in relation to the land3, the profit or gain is to be treated for corporation tax or income tax purposes as profits of a trade carried on by the chargeable person4.

Condition A is that the main purpose, or one of the main purposes, of acquiring the land was to realise a profit