Section 643 | Exemption for gains on a sale of property

(1)This section applies if—

(a)chargeable gains accrue to a housing association on a disposal by way of sale of any property which has been occupied, or is occupied, by a tenant of the housing association,

(b)the gains accrue in an accounting period or part of an accounting period during which the association was approved for the purposes of this Chapter, and

(c)the association makes a claim under this section for that period or part of a period.

(2)No liability to corporation tax arises in respect of the gains.