Transactions in land: Period in which the gain is taxed
S758 Income Tax Act 2007, S818 Corporation Tax Act 2010
- tax year in which the gain arises (where the person liable for the tax is an individual, a trustee or a personal representative), or
- accounting period in which the gain arises (where the person liable for the tax is a company).
For guidance on how to compute the amount to be taxed, see BIM60333.
For details of where the tax due may be recovered from another person, see BIM60330.