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HMRC internal manual

Capital Gains Manual

Land: small part-disposals: consideration exceeds allowable expenditure


If the conditions set out in CG71870-CG71871 above are satisfied, but the consideration received exceeds the allowable expenditure, it is not possible for the taxpayer to elect that the transfer should not give rise to a disposal for Capital Gains Tax purposes. Instead, the taxpayer may elect that the consideration for the part-disposal should be reduced by the amount of the allowable expenditure.

The time limit within which an election must be made is explained at CG71877.