Income Tax Act 2007 section 761

Transactions, arrangements, sales and realisations relevant for Chapter

Section 761 defines what counts as a relevant transaction, arrangement, sale or realisation for the purposes of the anti-avoidance rules in this Chapter, which targets certain gains that have a connection to land in the United Kingdom.

• This section is the first of a group of supplementary definitions (sections 761 to 764) that support the core anti-avoidance provisions in sections 755 to 760.
• The definitions clarify the types of transactions, arrangements, sales and realisations that fall within the scope of the Chapter, ensuring broad coverage of potential avoidance strategies.
• These supplementary rules apply across the entire Chapter, not just to individual sections, reflecting their fundamental importance to the anti-avoidance regime.
• The section is derived from the former provisions in section 777(2) and (3) of the Income and Corporation Taxes Act 1988, as subsequently amended by the Finance Act 2016 and Finance (No. 2) Act 2017.