What did Corporation Tax Act 2010 section 828 deal with?

Section 828 of the Corporation Tax Act 2010 addressed the tax treatment of disposals of shares in companies that held land as trading stock. It was part of Part 18 of the Act and targeted situations where shares were sold in land-holding companies rather than selling the land directly, potentially achieving a different tax outcome.

Has section 828 of the Corporation Tax Act 2010 been repealed?

Yes, section 828 was repealed by Finance Act 2016, section 77(4). The entire Part 18 of the Corporation Tax Act 2010 was removed from the statute book. This repeal took effect for disposals made on or after 5 July 2016, meaning the provision has no application to any current transactions involving land-holding companies.

When did the repeal of section 828 CTA 2010 take effect?

The repeal of section 828 took effect for disposals made on or after 5 July 2016. Any disposal of shares in a company holding land as trading stock occurring before that date would still have been subject to the old rules under Part 18. Disposals after that date fall under revised rules introduced by Finance Act 2016.

What rules now apply instead of section 828 for disposals of shares in land-holding companies?

Following the repeal of section 828 and Part 18 of the Corporation Tax Act 2010, the tax treatment of disposals of shares in companies holding land as trading stock is now governed by other provisions introduced or amended by Finance Act 2016. These broader reforms were designed to tackle perceived avoidance in transactions involving land.

Corporation Tax Act 2010 section 828

Disposals of shares in companies holding land as trading stock

Section 828 dealt with the tax treatment of disposals of shares in companies that held land as trading stock, but this provision has been removed from the legislation.

Section 828 was part of Part 18 of the Corporation Tax Act 2010, which addressed disposals of shares in companies holding land as trading stock.
The entire Part 18, including section 828, was repealed by Finance Act 2016, section 77(4).
The repeal took effect for disposals made on or after 5 July 2016, meaning any disposal before that date would still have been subject to the old rules.
The removal of this provision was part of broader reforms in Finance Act 2016 to the taxation of transactions involving land.

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