Corporation Tax Act 2010 section 356AA

Other definitions

Section 356AA provides key definitions used throughout the provisions relating to the taxation of profits from dealings in land.

• Defines essential terms such as "land", "property deriving its value from land", and related concepts used in the land transaction rules.
• Clarifies that "land" is given a broad meaning, encompassing buildings, structures, estates, interests, and rights over land.
• Establishes that property "derives its value from land" where its value, or the greater part of its value, is directly or indirectly attributable to land.
• Sets out supplementary definitions to ensure consistent interpretation across the wider set of provisions dealing with profits from land disposals.