SCHEDULE 4 SRelief for certain acquisitions of residential property

PART 5 SWithdrawal of relief

Introductory S

13 (1) Relief under this schedule is withdrawn in the following circumstances. S

(2) Where relief is withdrawn, the amount of tax chargeable is the amount that would have been chargeable in respect of the acquisition but for the relief.

Commencement Information

I1 Sch. 4 para. 13 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2

Relief under Part 3 S

14 SRelief under Part 3 of this schedule (acquisition by property trader from individual acquiring new dwelling) is withdrawn if the property trader—

(a) spends more than the permitted amount on refurbishment of the old dwelling,

(b) grants a lease or licence of the old dwelling, or

(c) permits any of its principals or employees (or any person connected with any of its principals or employees) to occupy the old dwelling.

Commencement Information

I2 Sch. 4 para. 14 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2

15 SParagraph 14(b) does not apply to the grant of a lease or licence to the individual for a period of no more than 6 months.

Commencement Information

I3 Sch. 4 para. 15 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2

Relief under Part 4 S

16 SRelief under Part 4 of this schedule (acquisition by property trader from individual where chain of transactions breaks down) is withdrawn if the property trader—

(a) spends more than the permitted amount on refurbishment of the old dwelling,

(b) grants a lease or licence of the old dwelling, or

(c) permits any of its principals or employees (or any person connected with any of its principals or employees) to occupy the old dwelling.

Commencement Information

I4 Sch. 4 para. 16 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2

17 SParagraph 16(b) does not apply to the grant of a lease or licence to the individual for a period of no more than 6 months.

Commencement Information

I5 Sch. 4 para. 17 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2