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HMRC internal manual

Capital Gains Manual

From
HM Revenue & Customs
Updated
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Contingent liabilities: TCGA92 S49

TCGA92/S49

TCGA92/S49 deals with these problems as they arise in three specific types of contingent liability. It applies to

  • disposals of land

    • any liability remaining with or assumed by the person who assigns a lease which is contingent on a default in respect of liabilities assumed by the assignee under the terms of the lease
    • any contingent liability of the vendor or lessor of land in respect of any covenant required for quiet enjoyment or other obligation
  • disposals of any property other than land

    • any contingent liability in respect of a warranty or representation made on the disposal. See CG14815+ for further guidance on warranties and representations.