Taxation of Chargeable Gains Act 1992 Schedule 1B paragraph 8

Other definitions

Schedule 1B paragraph 8 provides key definitions and interpretive rules used throughout the Schedule, covering when a building is treated as having ceased to exist, when a disposal of land is completed, and what certain terms mean.

• A building is treated as having ceased to exist once it has been completely demolished to ground level, or demolished to ground level except for a single facade (or double facade on a corner site) where facade retention is required by planning permission or development consent.
• The completion of a disposal of an interest in land occurs at the time of disposal, or — where the disposal is made under a contract completed by a conveyance, transfer or other instrument — at the time that instrument takes effect.
• "Building" includes a part of a building, and "development consent" refers to consent under the Planning Act 2008 for UK land or equivalent consent for land outside the UK.
• "Planning permission" covers permissions granted under the relevant planning legislation in England and Wales, Scotland, Northern Ireland, and equivalent permissions for land outside the United Kingdom.