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Private residences

The provisions in this article were replaced, broadly for disposals on or after 5 July 2016 and for amounts recognised in accounts on or after 8 March 2017, by the provisions relating to the taxation of profits arising from a trade which involves either dealing in or developing UK land, see B5.233 and therefore is retained for reference only.

There is an exemption¹ for individuals for any gain from the disposal of a residence which is also exempt from capital gains tax as a private residence². This exemption extends to a dwelling house acquired wholly or partly for the purpose of realising a gain from its disposal although in this case the dwelling house is not exempt from capital gains tax³.

Sale of shares in companies trading in land

Exemption is also available⁴ for disposals of shares in (a) a company which holds land as trading stock or (b) a company