BIM60005 - Land: Trading transactions:
Outline
There is an overview of the subject at
BIM60010.
The relevant principles to be applied are set out in
BIM60020 - BIM60085.
Particular situations are considered at the following
references:-
- sale of land acquired by inheritance or
gift (
BIM60090)
- purchase and resale of superior interest
by tenant (
BIM60095 - BIM60130)
- sales of time share (
BIM60135 - BIM60155).
Notes on related topics are to be found at the following
references-
- computational etc points relating to
established building, developing and land dealing trades (
BIM51500 onwards).
- sale and lease back (
BIM61300 onwards).
- transactions in land: capital gains
treated as income (
BIM60300 onwards).
- list of useful land dealing cases and the
principles they demonstrate (
BIM60160).
- summary of occasions on which a report to
Business Tax (Technical) regarding land trading transactions is
required (
BIM60165).
'land' in the following paragraphs includes any buildings on the
land, in accordance with land law.
