# Finance Act 1974, Paragraph 4


Where a development gain accrues to a person in respect of a disposal of an interest in land to which section 38 of this Act applies, being a disposal in relation to which section [sections 115 to 121 of the Capital Gains Tax Act 1979 ] (replacement of business assets) [apply ], then, if a claim under [those sections] is made as respects the whole or any part of the consideration for the disposal, the consideration obtained by him for the disposal shall be treated for the purposes of [those sections in their application] in relation to the disposal as if it were equal to the amount by which the actual consideration obtained by him exceeds the amount of the said development gain.

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Source: https://www.legislation.gov.uk/ukpga/1974/30/schedule/8/paragraph/4 (the official version)
Page: https://openlegislation.uk/finance-act-1974/schedule-8/paragraph-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.