Beta This part of GOV.UK is being rebuilt – find out what this means

HMRC internal manual

Capital Gains Manual

From
HM Revenue & Customs
Updated
, see all updates

Land: what is land?

In law, land includes:

  • all buildings situated on it;
  • all fixtures attached to it;
  • any minerals below its surface; and
  • the air space above it.

However, there are specific provisions regarding;

  • treasure (owned by the Crown);
  • certain minerals (for example, all coal is owned by British Coal);
  • rights of passage for aircraft; which restrict the owner’s rights over the land.

However the general rule that land includes all the buildings situated on it is over-ridden for certain CGT purposes:

  • roll-over relief, TCGA92/S155, see CG60990
  • receipt of compensation and insurance money applied in restoring the asset, TCGA92/S23 (6), see CG15742
  • assets lost or destroyed or of negligible value, TCGA92/S24 (3), see CG15770+.