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Pre-owned land


Produced by a Tolley Personal Tax expert
Personal Tax
Guidance

Pre-owned land


Produced by a Tolley Personal Tax expert
Personal Tax
Guidance
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STOP PRESS: The remittance basis is abolished from 6 April 2025, although this only applies to foreign income and gains arising on or after that date. The remittance basis rules still apply to unremitted income and gains arising before that date but remitted later. The legislation is included in FA 2025. For more details, see the Abolition of the remittance basis from 2025/26 guidance note.

This guidance note considers the pre-owed asset tax (POAT) as it applies to land, where an individual has made a gift of land, or funded the purchase of land, from which they now benefit. It applies to disposals since March 1986.

For discussion of the regime generally, see the Pre-owned asset tax overview guidance note.

Land includes buildings, and the asset may well be a domestic residence, eg the family home.

The conditions

The residence and domicile conditions

In order for the pre-owned asset tax to apply to the individual for any tax year, they must be resident in the UK during that year, see the Residence ― overview guidance note.

Where

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  • 21 Mar 2025 08:36

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