Related Commentary  Related HMRC Manuals

572(1)  In this Act references to the sale of property include–

(a)the exchange of property, and

(b)the surrender for valuable consideration of a leasehold interest (or, in Scotland, the interest of the tenant in property subject to a lease).

572(2)  For the purposes of subsection (1), any provision of this Act referring to a sale has effect with the necessary modifications, including, in particular, those in subsection (3).

572(3)  The modifications are that–

(a)references to the net proceeds of sale and to the price include the consideration for the exchange or surrender, and

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