Related Commentary  Related HMRC Manuals

39(1)  Profits or losses arising out of land in the case of a concern to which this section applies are calculated as if the concern were a trade.

39(2)  Any profits arising out of the land are treated for the purposes of section 35 as profits of a trade.

39(3)  Any losses arising out of the land are treated for the purposes of Chapter 2 of Part 4 of CTA 2010 (trade loss relief), Part 5 of that Act (group relief) and Part 5A of that Act (group relief for carried forward losses) as losses of a trade carried on in the United Kingdom.

39(4)  The concerns to which this section applies are–

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