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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
, see all updates

Land: part-disposals: value shifting: removal of right over asset

TCGA92/S29 (5)TCGA92/S29 (5) applies where

  • an asset is subject to a right or restriction; and
  • that right or restriction is surrendered or removed.In these circumstances, the person giving up the right or restriction is treated as having made a disposal or part disposal. The consideration for that disposal or part disposal is treated as being the market value of the right or restriction given up.