Commentary

B5.240 Calculation of gain on 'artificial' transactions in land

Business tax
Business tax | Commentary

B5.240 Calculation of gain on 'artificial' transactions in land

Business tax | Commentary

B5.240 Calculation of gain on 'artificial' transactions in land

The provisions in this article were replaced, broadly for disposals on or after 5 July 2016 and for amounts recognised in accounts on or after 8 March 2017, by the provisions relating to the taxation of profits arising from a trade which involves either dealing in or developing UK land, see B5.255.

The method of computing a gain is to be such as is just and reasonable in the circumstances, taking into account the value of what is obtained for disposal and allowing only such expenses as are attributable to the land

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