Finance Act 2015

7 (1) Section 225A (private residence held by personal representatives) is amended as follows. U.K.

(2) In subsection (5)—

(a) in paragraph (a), for the words from “the occupation” to the end substitute “ the matters dealt with in paragraph (aa), ”;

(b) after paragraph (a) insert—

“(aa) in relation to the occupation of the dwelling-house or part of the dwelling-house, residence in a territory, or meeting the day count test, references to the individual are to be taken as references to a qualifying individual,”;

(c) after paragraph (b) insert “and

(c) the notice which may be given by the personal representatives under section 222A is effective only if it is accompanied by written notification from the individual or individuals entitled to occupy the dwelling-house or part of the dwelling-house agreeing to the terms of the notice.”

(3) After subsection (6) insert—

“(7) In subsection (5)(aa) “a qualifying individual” means an individual—

(a) who has a relevant entitlement, and

(b) by virtue of whom the first condition is met.”