Policy paper

Profits from Trading in and Developing UK Land

This technical note and guidance explains the new legislation to ensure that profits from trading in UK land are fully taxed.

Documents

Profits from Trading in and Developing UK Land - technical note

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Explanatory Notes for new clauses 11 to 17

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Details

The legislation puts in place a specific set of rules to tax trading profits derived from land in the UK.

The rules will:

  • apply to resident and non-resident businesses equally
  • won’t depend on the existence of a ‘permanent establishment’ in the UK

The government has now introduced the legislation, which takes effect from 5 July 2016.

See clauses NC11 to NC17 on pages 11 to 38 of the Order Paper and explanatory notes.

Published 16 March 2016
Last updated 6 July 2016 + show all updates
  1. Notice that new provisions have legal effect from 5 July 2016.
  2. Notice that new provisions have legal effect from 5 July 2016
  3. Profits from Trading in and Developing UK Land will now be introduced at committee stage.
  4. First published.