Commentary

B6.307 Sales with right to reconveyance within 50 years

Business tax
Business tax | Commentary

B6.307 Sales with right to reconveyance within 50 years

Business tax | Commentary

B6.307 Sales with right to reconveyance within 50 years

A similar set of rules to those described in B6.301 applies if:

  1.  

    (a)     an estate or interest in land is sold subject to terms that the land is or may be required to be reconveyed in the future to the seller or a person connected with the seller;

  2.  

    (b)     the earliest possible date for the reconveyance would be within 50 years of the sale; and

  3.  

    (c)     the sale price exceeds the price for the subsequent reconveyance1.

The seller is treated as entering into a property business transaction—a UK property business if the

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