Corporation Tax Act 2010 section 643

Exemption for gains on a sale of property

Section 643 exempts approved housing associations from corporation tax on chargeable gains arising from the sale of properties occupied by their tenants.

• The exemption applies to chargeable gains on the sale of property that is or has been occupied by a tenant of the housing association
• The gains must arise during an accounting period (or part of one) in which the housing association held approved status
• The housing association must actively make a claim under this section for the relevant period
• Where all conditions are met, no corporation tax liability arises on the gains from the property sale