242 Small part disposals
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

242  Small part disposals

(1)     This section applies to a transfer of land forming part only of a holding of land, where—

(a)     the amount or value of the consideration for the transfer does not exceed one-fifth of the market value of the holding as it subsisted immediately before the transfer, and

(b)     the transfer is not one which, by virtue of section 58 or 171(1), is treated as giving rise to neither a gain nor a loss.

(2)     Subject to subsection (3) below, if the transferor so claims, the transfer shall not be treated for the purposes of this Act as a disposal,

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