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HMRC internal manual

Business Income Manual

Transactions in land: Exemptions: Principal private residence

S767 Income Tax Act 2007

The transactions in land anti-avoidance rules do not apply to a gain by an individual, trustee or personal representative from the disposal of a private residence that is exempt from Capital Gains Tax by virtue of the only or main residence rules at S222-S226B Taxation of Chargeable Gains Act 1992 (TCGA 1992).

Nor does it apply where the gain would have been exempt under those provisions but for the rule in S224(3) TCGA 1992 (residences acquired partly with a view to make a gain).

For other exemptions from the transactions in land rules, see BIM60360 and BIM60370.