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Pre-owned land


Produced by a Tolley Personal Tax expert
Personal Tax
Guidance

Pre-owned land


Produced by a Tolley Personal Tax expert
Personal Tax
Guidance
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This guidance note considers the pre-owed asset tax (POAT) as it applies to land, where an individual has made a gift of land, or funded the purchase of land, from which they now benefit. It applies to disposals since March 1986.

For discussion of the regime generally, see the Pre-owned asset tax overview guidance note.

Land includes buildings, and the asset may well be a domestic residence, eg the family home.

The conditions

The residence and domicile conditions

In order for the pre-owned asset tax to apply to the individual for any tax year, they must be resident in the UK during that year, see the Residence ― overview guidance note.

Where the individual is UK resident but is domiciled outside the UK (before 6 April 2025), or is UK resident but is not a long-term UK resident (6 April 2025 onwards), the pre-owned asset tax applies only if the asset is situated in the UK.

Before 6 April 2025, any property in an excluded property settlement (that is property outside the UK settled by a non-domiciled settlor)

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