Finance Act 1974 (c. 30)

SCHEDULES

[F1 SCHEDULE 3 U.K. PROVISIONS SUPPLEMENTARY TO SECTION 38

Textual Amendments

F1 Sch. 3Repealed by Finance Act 1985 (c. 54, SIF 63:1), s. 98(6)and Sch.27 Part Xin relation to disposals of interests in land taking place on or after 19March Finance Act 1985 (c. 54, SIF 63:1),but without affecting the construction of 1979 (C) Sch.5 para. 9(5).

PART I U.K. DEFINITIONS OF CURRENT USE VALUE, MATERIAL DEVELOPMENT, ETC.

Date when material development is begun U.K.

9 (1) For the purposes of this Schedule material development shall be taken to be begun on the earliest date on which any specified operation comprised in the material development is begun. U.K.

(2) In this paragraph “specified operation”means any of the following, that is to say—

(a) any work of construction in the course of the erection of a building;

(b) the digging of a trench which is to contain the foundations, or part of the foundations, of a building;

(c) the laying of any underground main or pipe to the foundations, or part of the foundations, of a building or to any such trench as is mentioned in (b) above;

(d) any operation in the course of laying out or constructing a road or part of a road;

(e) any change in the use of any land F2 .]

Textual Amendments

F2 See—Development Land Tax Act 1976 (c. 24), ss. 36(2)and 38—Development Land Tax—Sch.3 Part Iapplied for the purposes of those sections. Development Land Tax Act 1976 (c. 24),repealed by Finance Act 1985 (c. 54, SIF 63:1), ss. 93, 98(6)and Sch.27 Part X. Capital Gains Tax Act 1979 (c. 14, SIF 63:1) Sch.6 para. 9—Sch.3 para. 9applied for purposes of that para.