Statement of practice D1

When a part-disposal of land occurs, it is strictly necessary to value the whole of the remaining land so that the A / (A + B) formula in TCGA92/S42 can be applied. However, if the taxpayer agrees, a special practice, described below, can be adopted.

The special practice can only apply where the subject of the part-disposal is the entire interest in what is recognisable as a separate asset. An example would be the disposal of a single field, or even part of a field, out of a farm.

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