Draft legislation accessible version
Published 20 July 2022
© Crown copyright 2022
This publication is licensed under the terms of the Open Government Licence v3.0 except where otherwise stated. To view this licence, visit nationalarchives.gov.uk/doc/open-government-licence/version/3 or write to the Information Policy Team, The National Archives, Kew, London TW9 4DU, or email: psi@nationalarchives.gov.uk.
Where we have identified any third party copyright information you will need to obtain permission from the copyright holders concerned.
This publication is available at https://www.gov.uk/government/publications/capital-gains-tax-disposals-of-land-and-residences-for-limited-liability-partnerships-and-scottish-partnerships/draft-legislation-accessible-version
1 Relief on disposal of joint interests in land
(1) In section 248A of TCGA 1992 (roll-over relief on disposal of joint interests in land: conditions), at end insert—
“(8) Section 248B applies in relation to cases where, immediately before the disposal, the land is held by a partnership comprising the landowner and the co-owner or co-owners (whether the partnership is formed in Scotland or elsewhere) as it applies in relation to other cases (and the partners are regarded as the landowner and the co-owner or co-owners for the purposes of this section and section 248B).”
(2) In section 248E of TCGA 1992 (relief on disposal of joint interests in private residence), at end insert—
“(9) This section applies in relation to cases where, immediately before the disposal, the land is held by a partnership comprising the landowner and the co-owner or co-owners (whether the partnership is formed in Scotland or elsewhere) as it applies in relation to other cases (and the partners are regarded as the landowner and the co-owner or co-owners for the purposes of this section).”
(3) The amendments made by this section have effect in relation to disposals made on or after budget day 2022.