Revenue Precedent

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Revenue Precedents

In strictness, no relief is due as in law, the building and the land on which it stands are one asset. However, in practice, the 'old' and the 'new' buildings may be treated as distinct assets separate from the land on which they stand and relief may be allowed under s536(2). This practice does not apply to leasehold with less than 50 years to run. G130.