159ADisposals of interests in UK land by non-residents: roll-over relief

1

This section applies in a case where—

a

the old assets that are disposed of are interests in UK land, and

b

a chargeable gain accruing on the disposal would (apart from section 152) be within the charge to tax because of section 1A(3)(b) or 2B(4)(a).

2

Section 152 applies only if the new assets that are acquired are interests in UK land.

3

In this section—

a

“interest in UK land” has the meaning given by section 1C,

b

“the old assets” and “the new assets” have the same meaning as in section 152,

c

any reference to a disposal of the old assets includes a disposal of an interest in them,

d

the reference to the acquisition of the new assets includes the acquisition of an interest in them or entering into an unconditional contract for their acquisition.