Assets acquired from a connected party or parties; land, or tangible moveable property, acquired at arms length

The term 'connected' is as defined in Section 993/4 of Income Tax Act 2007.

For more information regarding Indirect Holding see RPSM07109410 onwards.

Land or interest in land
Land includes residential or commercial buildings, agricultural, forestry or interest in the land, for example, leases and ground rents. Residential property is defined in Schedule 29A of Finance Act 2004.

Other useful definitions
Genuinely diverse commercial vehicle - see RPSM07109420
Investment Regulated Pension Scheme - see RPSM07109050

RPSM is the Registered Pension Schemes Manual which can be found at www.hmrc.gov.uk/pensionschemes/index.htm