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HMRC internal manual

Business Income Manual

Builders, property dealers & developers: income recognition: ground rents

Rights to receive ground rents, perpetual chief rents etc, created by a trader should be dealt with, in the computation of profits and losses, in accordance with BIM51535 onwards following the cases of CIR v John Emery & Sons [1936] 20TC213, and B G Utting & Co Ltd v Hughes [1940] 23TC174.

The guidance on ground rents is arranged as follows.