Section 259 — Corporation Tax Act 2009: Nature of item apportioned on sale of estate or interest in land

Nature of item apportioned on sale of estate or interest in land 259 1 This section applies if—

a a company sells an estate or interest in land, b on the sale a part of a receipt or outgoing in respect of the estate or interest is apportioned to the seller, and c the receipt or outgoing is receivable or to be paid by the buyer after the apportionment is made.

2 In calculating the profits of the seller's property business, the part apportioned is treated as being of the same nature as the receipt or outgoing.