Related Commentary  Related HMRC Manuals

405(1)  This section applies if–

(a)section 404 (exclusion of undeveloped market value of land) applies to limit the buyer’s qualifying expenditure on acquiring the mineral asset,

(b)the undeveloped market value of the interest in land includes the value of any buildings or structures on the land, and

(c)at the time of the acquisition, or at any later time, the buildings or structures permanently cease to be used for any purpose.

405(2)  The buyer is to be treated–

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