BIM60330 - Land transactions: ICTA88/S776:
Person obtaining the gain
The person, or persons, who obtain the gain are:
- The person acquiring, holding or
developing the land or any connected person (ICTA88/S776 (2)(i))
(see
BIM60475).
- Any person, provided there exists an
arrangement or scheme which enables a gain falling within the
ICTA88/S776 to be realised
and that person is a party to, or concerned in,
that arrangement or scheme (ICTA88/S776 (2)(ii)).
Whichever of the above categories is relevant, ICTA88/S776 also
applies where the person falling within either category obtains the
gain for some other person (ICTA88/S776 (2)).
The person who provides the opportunity for another person to
realise a gain may also be caught by ICTA88/S776 (8), (see
BIM60335).
