- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
If—
(a)capital expenditure has been incurred on the construction of a building which was to be or include a qualifying dwelling-house, and
(b)the relevant interest in the building has not been sold or, if it has been sold, it has been sold only after the first use of the building,
the capital expenditure is qualifying expenditure.
(1)This section applies if—
(a)expenditure has been incurred on the construction of a building which was to be or include a qualifying dwelling-house,
(b)the relevant interest was sold before the first use of any dwelling-house comprised in the building,
(c)a capital sum was paid by the purchaser for the relevant interest, and
(d)section 503 (purchase of dwelling-house sold unused by developer) does not apply.
(2)The lesser of—
(a)the capital sum paid by the purchaser for the relevant interest, and
(b)the expenditure incurred on the construction of the building,
is qualifying expenditure.
(3)The qualifying expenditure is to be treated as having been incurred when the capital sum became payable.
(4)If the relevant interest was sold more than once before the first use of any dwelling-house comprised in the building, subsection (2) has effect only in relation to the last of those sales.
(1)This section applies if—
(a)expenditure has been incurred by a developer on the construction of a building which was to be or include a qualifying dwelling-house, and
(b)the relevant interest was sold by the developer in the course of the development trade before the first use of any dwelling-house comprised in the building.
(2)If—
(a)the sale of the relevant interest by the developer was the only sale of that interest before the first use of any dwelling-house comprised in the building, and
(b)a capital sum was paid by the purchaser for the relevant interest,
the capital sum is qualifying expenditure.
(3)If—
(a)the sale by the developer was not the only sale before the first use of any dwelling-house comprised in the building, and
(b)a capital sum was paid by the purchaser for the relevant interest on the last sale,
the lesser of that capital sum and the price paid for the relevant interest on its sale by the developer is qualifying expenditure.
(4)The qualifying expenditure is treated as having been incurred when the capital sum referred to in subsection (2)(b) or (3)(b) became payable.
(5)For the purposes of this section—
(a)a developer is a person who carries on a trade which consists in whole or in part in the construction of buildings with a view to their sale, and
(b)an interest in a building is sold by the developer in the course of the development trade if the developer sells it in the course of the trade or (as the case may be) that part of the trade that consists in the construction of buildings with a view to their sale.
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Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.
Gwreiddiol (Fel y’i Deddfwyd neu y’i Gwnaed): Mae'r wreiddiol fersiwn y ddeddfwriaeth fel ag yr oedd pan gafodd ei deddfu neu eu gwneud. Ni wnaed unrhyw newidiadau i’r testun.
Testun a grëwyd gan yr adran o’r llywodraeth oedd yn gyfrifol am destun y Ddeddf i esbonio beth mae’r Ddeddf yn ceisio ei wneud ac i wneud y Ddeddf yn hygyrch i ddarllenwyr nad oes ganddynt gymhwyster cyfreithiol. Cyflwynwyd Nodiadau Esboniadol ym 1999 ac maent yn cyd-fynd â phob Deddf Gyhoeddus ac eithrio Deddfau Adfeddiannu, Cronfa Gyfunol, Cyllid a Chyfnerthiad.
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