Related Commentary  Related CasesRelated HMRC Manuals

44(1)  This section applies where a contract for a land transaction is entered into under which the transaction is to be completed by a conveyance.

44(2)  A person is not regarded as entering into a land transaction by reason of entering into the contract, but the following provisions have effect.

44(3)  If the transaction is completed without previously having been substantially performed, the contract and the transaction effected on completion are treated as parts of a single land transaction.

In this case the effective date of the transaction is the date of completion.

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