{
  "url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/schedule-2/paragraph-51",
  "json_url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/schedule-2/paragraph-51.json",
  "legislation": "ukpga/2005/5",
  "legislation_title": "Income Tax (Trading and Other Income) Act 2005",
  "legislation_url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005",
  "path": "schedule/2/paragraph/51",
  "kind": "paragraph",
  "number": "51",
  "heading": null,
  "text": "(1) This paragraph applies if any profits or losses arising out of land in the case of any concern specified in section 55(2) of ICTA—\n(a) arose in the tax year 2004-05, and\n(b) were calculated for that tax year otherwise than by reference to a basis period.\n(2) For the purpose of determining the basis period for the tax year 2005-06 and subsequent tax years, the concern is treated as if it were a trade which was started to be carried on by a person on 6th April 2005.\n(3) Paragraph 48 of this Schedule applies in relation to any case to which this paragraph applies as if references to a basis period for a tax year (an “earlier tax year”) before the tax year 2005-06 were references to that earlier tax year.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2005/5/schedule/2/paragraph/51",
    "retrieved_at": "2026-10-29T09:16:32.370392+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}