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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