CG70205 | Land: what is land?

In law, land includes:

• all buildings situated on it;

• all fixtures attached to it;

• any minerals below its surface; and

• the air space above it.

However, there are specific provisions regarding;

• treasure (owned by the Crown);

• certain minerals (for example, all coal is owned by the Coal Authority and all gold and silver right are held by the Crown);

• rights of passage for aircraft; which restrict the owner's rights over the land.

However the general rule that land includes all the buildings situated on it is over-ridden for certain CGT purposes:

• roll-over relief, TCGA92/S155, see CG60281

• receipt of compensation and insurance money applied in restoring the asset, TCGA92/S23 (6), see CG15742

• assets lost or destroyed or of negligible value, TCGA92/S24 (3), see CG15773.