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On a part disposal of an asset or an interest in an asset, the allowable expenditure in computing the chargeable gain or loss is found by applying a statutory part disposal formula to the allowable expenditure in respect of the entire interest before the disposal (see C2.402), excluding any expenditure attributable exclusively to the part disposed of or the part retained (see C2.403). For the meaning of allowable expenditure, see C2.201.

These rules generally apply to a part disposal of land or an interest in land. Different rules may apply, however, in the following cases:

1. Ìý

   •ÌýÌýÌýÌý where the taxpayer uses the alternative method of calculation in Statement of Practice SP D1 (see below)

2. Ìý

   •ÌýÌýÌýÌý on a small part disposal of land to transferees generally (see C2.1103)

3. Ìý

   •ÌýÌýÌýÌý on a small part disposal of land to an authority under compulsory purchase (see C2.1117)

4. Ìý

   •ÌýÌýÌýÌý on the grant of a short lease (see C2.1214A)

The granting of an option over land by its owner for the option holder