Commentary

B5.242 Exemptions from 'artificial' transactions in land

Business tax
Business tax | Commentary

B5.242 Exemptions from 'artificial' transactions in land

Business tax | Commentary

B5.242 Exemptions from 'artificial' transactions in land

Private residences

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.

There is an exemption1 for individuals for any gain from the disposal of a residence which is also exempt from capital gains tax as a private residence2. This exemption extends to a dwelling house acquired wholly or partly for the purpose of realising a gain from its disposal although in this case the dwelling house is not exempt from capital

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