Related Commentary  Related HMRC Manuals

311(1)  This section applies if–

(a)a person receives a reverse premium, and

(b)the reverse premium is not brought into account under section 101(2) in calculating the profits of any trade carried on by the person.

311(2)  The person is treated as–

(a)entering into a transaction mentioned in section 264 (if the land to which the property transaction relates is in the United Kingdom) or section 265 (if that land is outside the United Kingdom), and

(b)receiving the reverse premium as a result of that transaction.

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