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HMRC internal manual

Capital Gains Manual

Land: development value: `current use value'

TCGA92/SCH2/PARA10The current use value of land is the market value of that land calculated on the basis that material development of the land would be unlawful. For this purpose, the fact that planning permission has not been granted does not mean that material development would be unlawful, Watkins v Kidson, 53TC117.