A profit or gain from a disposal of any land in the UK is to be treated for corporation tax purposes as profits of a trade carried on by the chargeable company (¶712-410) if:

(a)a specified person realises a profit or gain from the disposal, and

(b)any of the specified conditions is met in relation to the land.

(CTA 2010, s. 356OC(1))

The rules apply to losses in the same way they apply to profits and gains (CTA 2010, s. 356OF(1)).

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