[F1UK residential property interestU.K.
Textual Amendments
F1Sch. A1 inserted (with effect in accordance with Sch. 10 para. 9 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 10 para. 1 (with Sch. 10 para. 9(2))
8(1)In this Schedule “UK residential property interest” means an interest in UK land—U.K.
(a)where the land consists of a dwelling,
(b)where and to the extent that the land includes a dwelling, or
(c)where the interest subsists under a contract for an off-plan purchase.
(2)For the purposes of sub-paragraph (1)(b), the extent to which land includes a dwelling is to be determined on a just and reasonable basis.
(3)In this paragraph—
“interest in UK land” has [F2the same meaning as it has for the purposes of section 1A(3)(b) of the 1992 Act (see section 1C of that Act);]
“the land”, in relation to an interest in UK land which is an interest subsisting for the benefit of land, is a reference to the land for the benefit of which the interest subsists;
“dwelling” has [F3the same meaning as it has for the purposes of Schedule 1B to the 1992 Act;]
“contract for an off-plan purchase” [F4means a contract for the acquisition of land consisting of, or including, a building, or part of a building, that is to be constructed or adapted for use as a dwelling.]]
Textual Amendments
F2Words in Sch. A1 para. 8(3) substituted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 95(a)
F3Words in Sch. A1 para. 8(3) substituted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 95(b)
F4Words in Sch. A1 para. 8(3) substituted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 95(c)