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HMRC internal manual

Business Income Manual

From
HM Revenue & Customs
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Transactions in land: Definitions: Another person

S763 Income Tax Act 2007, S825 Corporation Tax Act 2010

In order to decide who should be taxed on the gain under the transactions in land rules, it is important to identify the parties to the transaction and whether it is appropriate to tax a third party to the transaction (‘another person’) if that person provided the value or the opportunity for the person who receives the consideration. See BIM60325, BIM60328 and BIM60330.

Sometimes it may be difficult to differentiate the person receiving the consideration from the person providing the value or opportunity. For the avoidance of doubt, the legislation sets out a number of situations in which persons can be distinguished:

  • a partnership (or partners in partnership) may be regarded as a person or persons distinct from the individuals or other persons who are for the time being partners
  • the trustees of settled property may be regarded as persons distinct from the individuals or other persons who are for the time being trustees
  • personal representatives may be regarded as persons distinct from the individuals or other persons who are for the time being personal representatives