Profits from Trading in and Developing UK Land
This technical note and guidance explains the new legislation to ensure that profits from trading in UK land are fully taxed.
▤ Verbatim text from source document
The legislation puts in place a specific set of rules to tax trading profits derived from land in the UK.
The rules will:
- apply to resident and non-resident businesses equally
- won’t depend on the existence of a ‘permanent establishment’ in the UK
The government has now introduced the legislation, which takes effect from 5 July 2016.
See clauses NC11 to NC17 on pages 11 to 38 of the Order Paper and explanatory notes.