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HMRC internal manual

Capital Gains Manual

Land: destruction of buildings

TCGA92/S24 (3)

TCGA92/S24 deals with disposals where assets are lost or destroyed or become of negligible value. Without a special provision, it would not be possible for land and buildings to come within TCGA92/S24 (1) or (2). This is because, as explained at CG70205, land and the buildings situated on it are a single asset and, except in the most unusual circumstances, land cannot be lost or destroyed. However, TCGA92/S24 (3) allows buildings to be treated as a separate asset from the land on which they stand, for the purposes of Section 24(1) or (2). Detailed instructions on the application of Section 24(3) are at CG15770 and CG15773.

TCGA92/S23 (6)

Where a capital sum is received in respect of a building that has been irreparably damaged and the compensation is applied in acquiring a replacement on other land relief is available under TCGA92/S23 (6), see CG15742.