The following Tax Q&A provides comprehensive and up to date legal information covering:
Where a property-rich entity is trading before and after a disposal of an interest in it and the UK land is used in the qualifying trade, any indirect disposal of UK real property is excepted from the charge for indirect disposals on or after 6 April 2019.
An interest in UK land is used for trading purposes if it is being used in or for the purposes of a qualifying trade or it has been acquired for use in or for the purposes of a qualifying trade.
A trade is a qualifying trade if:
it has been carried on by the company, or by a person connected with the company, throughout the period of one year ending with the time of disposal on a commercial basis with a view to the realisation of profits,
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