Income Tax Act 2007 section 752

Overview of Chapter

Section 752 provides an overview of the Chapter dealing with transactions in land, which targets income tax charges on profits from certain land dealings.

• The Chapter sets out the framework for charging income tax on gains of a capital nature arising from certain transactions involving land in the United Kingdom.
• It applies where land is acquired, developed or disposed of in ways that produce a profit or gain, and one of several specified conditions is met.
• The overview signposts the detailed provisions that follow in the Chapter, including the conditions that trigger a charge, the persons who may be liable, and how the chargeable amount is calculated.
• The Chapter was amended by Finance Act 2016 and Finance (No. 2) Act 2017 to update and refine the scope of the transactions in land rules.