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HMRC internal manual

Capital Gains Manual

Land: part-disposals: single acquisition of land

A single acquisition of land, with or without buildings, whether by purchase, gift or inheritance, should normally be regarded as the acquisition of a single asset for Capital Gains Tax purposes. This principle will apply even if the land acquired includes distinct elements, for example houses, outbuildings or woodlands.

However, there may be evidence which shows that more than one asset was acquired. Examples of such evidence could include

  • the contract for purchase of the land may show separate prices for particular parts of the land;
  • the land may have been bought in lots at auction;
  • the rent roll of an estate may show separate tenants paying particular rents for particular properties and the price of each property may be calculated accordingly.