Finance Act 2024

Single property rule U.K.

8 In section 529 (conditions as to property rental business)—

(a) in subsection (2A)—

(i) after “is” insert “, or was at any time from the relevant time,”,

(ii) for “exceeds” substitute “in excess of”, and

(iii) omit “at the relevant time”, and

(b) in subsection (2B)—

(i) in the words before paragraph (a), after “means” insert “the later of”

(ii) for paragraphs (a) and (b) substitute—

“(a) entry, and

(b) when the property was acquired.”