Profits from a trade of dealing in or developing UK land: Overview of legislation
The legislation in Part 8ZB CTA 2010 and Part 9A ITA 2007 sets out conditions which, if met, result in profits from a disposal being treated as profits from a trade of dealing in or developing UK land.
The ‘Transactions in land’ legislation (Part 18 CTA 2010 and Chapter 3 Part 13 ITA 2007) has been repealed and replaced. The legislation is now in Part 8ZB CTA 2010 for corporation tax, and Part 9A ITA 2007 for income tax.
To the extent that profits or gains from a land disposal would be brought into account as income by other sections of legislation, it will not be taxed again by Part 8ZB CTA 2010 or Part 9A ITA 2007.