Sch. 4 para. 13(2)(a) substituted(for valuation on or after 20.03.1990) by Finance Act 1990 (c. 29, SIF 63:1), s. 73(1)(a), and (2).

Sch. 4 para. 13(3) repealed(for valuation on or after 20.03.1990) by Finance Act 1990 (c. 29, SIF 63:1), ss. 73(1)(b), (2), 132, Sch. 19 Pt. IV, Note 13.

Words in Sch. 4 para. 15(1) substituted (16.7.1992) by Finance (No. 2) Act 1992 (c. 48), s. 40(2)(5).

Sch. 4 para. 15(1A)-(1C) inserted (16.7.1992) by Finance (No. 2) Act 1992 (c. 48), s. 40(3)(5)

Sch. 4 para. 15(3)-(5) added (16.7.1992) by Finance (No. 2) Act 1992 (c. 48), s. 40(4)(5)

1985 c. 68.

S.I. 1983/1118 (N.I. 15).

1985 c. 68.

1987 c. 26.

S.I. 1981/156 (N.I. 3).

S.I. 1983/1118 (N.I. 15).

1982 c. 39.

http://www.legislation.gov.uk/ukpga/1988/39/schedule/4/part/II/1994-05-03Finance Act 1988An Act to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with Finance.1988-07-29texttext/xmlenStatute Law Database2024-05-231994-05-03 SCHEDULESSCHEDULE 4Part II Dwelling-Houses to Which Section 50 Does Not Apply Expensive dwelling-houses13(1)

Section 50 of this Act does not apply to a dwelling-house the market value of which exceeds—

(a)

in the case of a dwelling-house in Greater London, £125,000;

(b)

in any other case, £85,000.

(2)

The market value of a dwelling-house at any date (“the valuation date”) shall be taken to be the price which, at the relevant date, it might reasonably have been expected to fetch on a sale in the open market—

(a)

on the assumption that the dwelling-house was in the same state as at the valuation date;

(b)

on the assumptions as to title mentioned in sub-paragraph (4) below;

and in this paragraph “the relevant date” means the date of the issue of the shares or, if later, the date when the company or any of its subsidiaries first acquired an interest in the dwelling-house (or the land which comprises the dwelling-house).

(3)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4)

The assumptions as to title are—

(a)

where the dwelling-house is in England and Wales or Northern Ireland and is a house, that the vendor was selling for an estate in fee simple with vacant possession and that the dwelling-house was to be conveyed with the same rights and subject to the same burdens as it would be if conveyed in pursuance of the right to buy legislation;

(b)

where the dwelling-house is in England and Wales or Northern Ireland and is a flat, that the vendor was granting a lease with vacant possession for a term of 125 years at a rent of £10 per annum and that the grant was to be made with the same rights and subject to the same burdens as it would be if made in pursuance of that legislation; and

(c)

where the dwelling-house is in Scotland, that it was available with vacant possession and with no heritable security constituted over any interest in it.

(5)

In sub-paragraph (4) above “the right to buy legislation” means—

(a)

in relation to a dwelling-house in England and Wales, Part V of the Housing Act 1985;

(b)

in relation to a dwelling-house in Northern Ireland, Chapter I of Part II of the Housing (Northern Ireland) Order 1983;

and “flat” and “house” have the same meanings as in that legislation.

(6)

The Treasury may by order amend sub-paragraph (1) above by substituting a different amount for any amount for the time being specified there.

Unfit and sub-standard dwelling-houses14

Section 50 of this Act does not apply to—

(a)

a dwelling-house in England and Wales which is unfit for human habitation within the meaning of section 604 of the Housing Act 1985 or does not have all the standard amenities within the meaning of section 508 of that Act;

(b)

a dwelling-house in Scotland which does not meet the tolerable standard described, for the purposes of the Housing (Scotland) Act 1987, by section 86 of that Act or does not have all the standard amenities described in the first column of Part I of Schedule 18 to that Act; or

(c)

a dwelling-house in Northern Ireland which is unfit for human habitation within the meaning of Article 46 of the Housing (Northern Ireland) Order 1981 or does not have all the standard amenities within the meaning of Article 59 of the Housing (Northern Ireland) Order 1983.

Dwelling-houses already let etc.15(1)

Subject to sub-paragraphs (1A) to (1C) below, section 50 of this Act does not apply to a dwelling-house if—

(a)

before the relevant date, the company or any of its subsidiaries had entered into arrangements for letting the whole or any part of the dwelling-house;

(b)

at that date, the whole or any part of the dwelling-house was let; or

(c)

after that date, the whole or any part of the dwelling-house has been let otherwise than on a qualifying tenancy.

(1A)

Section 50 of this Act is not precluded from applying to a dwelling-house by sub-paragraph (1)(a) above if the arrangements there mentioned were for letting to a person who was an owner-occupier of the dwelling-house before the relevant date.

(1B)

Section 50 of this Act is not precluded from applying to a dwelling-house by sub-paragraph (1)(b) above if the letting there mentioned was to a person—

(a)

who was an owner-occupier of the dwelling-house before the date of the letting, and

(b)

to whom the dwelling-house or part is let on a qualifying tenancy by the company or any of its subsidiaries after the relevant date.

(1C)

Section 50 of this Act is not precluded from applying to a dwelling-house by sub-paragraph (1)(c) above if the letting there mentioned was to a person—

(a)

who was an owner-occupier of the dwelling-house before the relevant date, and

(b)

to whom the dwelling-house or part is let on a qualifying tenancy by the company or any of its subsidiaries after the letting mentioned in sub-paragraph (1)(c).

(2)

In this paragraph—

let” includes let under a licence and “letting” shall be construed accordingly;

the relevant date” means the date when the company or any of its subsidiaries first acquired an interest in the dwelling-house (or the land which comprises the dwelling-house).

(3)

For the purposes of this paragraph, a person shall be taken to have been an owner-occupier of a dwelling-house before the relevant date or, as the case may be, the date mentioned in sub-paragraph (1B)(a) above if—

(a)

at any time before that date, he occupied the dwelling-house as his only or principal home and had a freehold interest in it, or

(b)

for a period of at least two years ending on that date, he occupied the dwelling-house as his only or principal home and had an interest in it under a lease for a term of years certain not less than twenty-one of which remained unexpired at that date.

(4)

In the application of sub-paragraph (3) above to a dwelling-house in Scotland—

(a)

for paragraph (a) there shall be substituted—

“(a)

at any time before that date he occupied the dwelling-house and—

(i)

was the absolute owner of it, or

(ii)

was the owner of thedominium utile in it,”; and

(b)

in paragraph (b) the word “certain” shall be omitted.

(5)

In the application of sub-paragraph (3) above to a dwelling-house in Northern Ireland, any conveyance or assignment of an interest in it by way of mortgage shall be disregarded.

Dwelling-houses already qualifying for relief16(1)

Section 50 of this Act does not apply to a dwelling-house if—

(a)

a certificate has been issued under section 306(2) of the Taxes Act 1988 (as modified by paragraph 10 above) by some other company (“the other company”); and

(b)

at any time after the issue of the shares to which that certificate related, the conditions mentioned in sub-paragraph (2) below were satisfied in relation to the dwelling-house (or a dwelling-house the whole or any part of which has been converted into or consists of the whole or any part of the dwelling-house).

(2)

The conditions referred to in sub-paragraph (1) above are satisfied in relation to a dwelling-house at any time if, at that time—

(a)

the dwelling-house is a dwelling-house to which section 50 of this Act applies in relation to the other company or any of its subsidiaries; and

(b)

an interest in the dwelling-house is owned by that company or any such subsidiary.

Dwelling-houses qualifying for capital allowances17

Section 50 of this Act does not apply to a dwelling-house in respect of which the company is entitled to capital allowances under paragraph 2 of Schedule 12 to the Finance Act 1982.

Interpretation of certain expressions: Scotland18

In the application of the above provisions of this Part to Scotland, references to acquiring an interest shall be construed, if there is a contract to acquire the interest, as references to entering into that contract and for the purposes of paragraph 16(2)(b) above, a company or subsidiary shall be regarded as owning an interest during the period between its entering into such a contract as regards that interest and its acquiring the interest.

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<p>
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substituted
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by
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,
<ref eId="c01984" class="subref operative" href="http://www.legislation.gov.uk/id/ukpga/1990/29/section/73/1/a">s. 73(1)(a)</ref>
, and (2).
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<note ukl:Name="Commentary" ukl:Type="F" class="commentary F" eId="c13530071" marker="F2">
<p>
<ref eId="c01985" class="subref" href="http://www.legislation.gov.uk/id/ukpga/1988/39/schedule/4/paragraph/13/3">Sch. 4 para. 13(3)</ref>
repealed
<i>(for valuation on or after 20.03.1990)</i>
by
<ref eId="c01986" href="http://www.legislation.gov.uk/id/ukpga/1990/29">Finance Act 1990 (c. 29, SIF 63:1)</ref>
,
<ref eId="c01987" class="subref operative" href="http://www.legislation.gov.uk/id/ukpga/1990/29/section/73/1/b">ss. 73(1)(b)</ref>
, (2), 132, Sch. 19 Pt. IV, Note 13.
</p>
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<note ukl:Name="Commentary" ukl:Type="F" class="commentary F" eId="c13530141" marker="F3">
<p>
Words in
<ref eId="c01994" class="subref" href="http://www.legislation.gov.uk/id/ukpga/1988/39/schedule/4/paragraph/15/1">Sch. 4 para. 15(1)</ref>
substituted (16.7.1992) by
<ref eId="c01995" href="http://www.legislation.gov.uk/id/ukpga/1992/48">Finance (No. 2) Act 1992 (c. 48)</ref>
,
<ref eId="c01996" class="subref operative" href="http://www.legislation.gov.uk/id/ukpga/1992/48/section/40/2/5">s. 40(2)(5)</ref>
.
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<note ukl:Name="Commentary" ukl:Type="F" class="commentary F" eId="c13530151" marker="F4">
<p>
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inserted (16.7.1992) by
<ref eId="c01998" href="http://www.legislation.gov.uk/id/ukpga/1992/48">Finance (No. 2) Act 1992 (c. 48)</ref>
,
<ref eId="c01999" class="subref operative" href="http://www.legislation.gov.uk/id/ukpga/1992/48/section/40/3/5">s. 40(3)(5)</ref>
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<note ukl:Name="Commentary" ukl:Type="F" class="commentary F" eId="c13530161" marker="F5">
<p>
<rref eId="c02000" class="subref" from="http://www.legislation.gov.uk/id/ukpga/1988/39/schedule/4/paragraph/15/3" upTo="http://www.legislation.gov.uk/id/ukpga/1988/39/schedule/4/paragraph/15/5">Sch. 4 para. 15(3)-(5)</rref>
added (16.7.1992) by
<ref eId="c02001" href="http://www.legislation.gov.uk/id/ukpga/1992/48">Finance (No. 2) Act 1992 (c. 48)</ref>
,
<ref eId="c02002" class="subref operative" href="http://www.legislation.gov.uk/id/ukpga/1992/48/section/40/4/5">s. 40(4)(5)</ref>
</p>
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<note ukl:Name="Commentary" ukl:Type="M" class="commentary M" eId="c13530081" marker="M1">
<p>
<ref eId="c01988" href="http://www.legislation.gov.uk/id/ukpga/1985/68">1985 c. 68</ref>
.
</p>
</note>
<note ukl:Name="Commentary" ukl:Type="M" class="commentary M" eId="c13530091" marker="M2">
<p>
<ref eId="c01989" href="http://www.legislation.gov.uk/id/nisi/1983/1118">S.I. 1983/1118 (N.I. 15)</ref>
.
</p>
</note>
<note ukl:Name="Commentary" ukl:Type="M" class="commentary M" eId="c13530101" marker="M3">
<p>
<ref eId="c01990" href="http://www.legislation.gov.uk/id/ukpga/1985/68">1985 c. 68</ref>
.
</p>
</note>
<note ukl:Name="Commentary" ukl:Type="M" class="commentary M" eId="c13530111" marker="M4">
<p>
<ref eId="c01991" href="http://www.legislation.gov.uk/id/ukpga/1987/26">1987 c. 26</ref>
.
</p>
</note>
<note ukl:Name="Commentary" ukl:Type="M" class="commentary M" eId="c13530121" marker="M5">
<p>
<ref eId="c01992" href="http://www.legislation.gov.uk/id/nisi/1981/156">S.I. 1981/156 (N.I. 3)</ref>
.
</p>
</note>
<note ukl:Name="Commentary" ukl:Type="M" class="commentary M" eId="c13530131" marker="M6">
<p>
<ref eId="c01993" href="http://www.legislation.gov.uk/id/nisi/1983/1118">S.I. 1983/1118 (N.I. 15)</ref>
.
</p>
</note>
<note ukl:Name="Commentary" ukl:Type="M" class="commentary M" eId="c13530171" marker="M7">
<p>
<ref eId="c02003" href="http://www.legislation.gov.uk/id/ukpga/1982/39">1982 c. 39</ref>
.
</p>
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</ukm:Statistics>
</proprietary>
</meta>
<body>
<hcontainer name="schedules" eId="schedules">
<heading> SCHEDULES</heading>
<hcontainer name="schedule" eId="schedule-4">
<num>
<noteRef href="#c13530041" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>
SCHEDULE 4
</num>
<part eId="schedule-4-part-II" uk:target="true">
<num>Part II</num>
<heading> Dwelling-Houses to Which Section 50 Does Not Apply</heading>
<hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-II-crossheading-expensive-dwellinghouses">
<heading> Expensive dwelling-houses</heading>
<hcontainer name="subheading" class="schGroup7" eId="d25e82">
<heading/>
<paragraph eId="schedule-4-paragraph-13" class="schProv1">
<num>13</num>
<subparagraph eId="schedule-4-paragraph-13-1">
<num>(1)</num>
<intro>
<p>Section 50 of this Act does not apply to a dwelling-house the market value of which exceeds—</p>
</intro>
<level class="para1" eId="schedule-4-paragraph-13-1-a">
<num>(a)</num>
<content>
<p>in the case of a dwelling-house in Greater London, £125,000;</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-13-1-b">
<num>(b)</num>
<content>
<p>in any other case, £85,000.</p>
</content>
</level>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-13-2">
<num>(2)</num>
<intro>
<p>
The market value of a dwelling-house at any date (“
<term refersTo="#term-the-valuation-date" eId="term-the-valuation-date">the valuation date</term>
”) shall be taken to be the price which, at the relevant date, it might reasonably have been expected to fetch on a sale in the open market—
</p>
</intro>
<level class="para1" eId="schedule-4-paragraph-13-2-a">
<num>
<ins class="first" ukl:ChangeId="d29p32418" ukl:CommentaryRef="c13530061">
<noteRef uk:name="commentary" href="#c13530061" class="commentary"/>
(a)
</ins>
</num>
<content>
<p>
<ins class="last" ukl:ChangeId="d29p32418" ukl:CommentaryRef="c13530061">on the assumption that the dwelling-house was in the same state as at the valuation date;</ins>
</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-13-2-b">
<num>(b)</num>
<content>
<p>on the assumptions as to title mentioned in sub-paragraph (4) below;</p>
</content>
</level>
<wrapUp>
<p>
and in this paragraph “
<term refersTo="#term-the-relevant-date" eId="term-the-relevant-date">the relevant date</term>
” means the date of the issue of the shares or, if later, the date when the company or any of its subsidiaries first acquired an interest in the dwelling-house (or the land which comprises the dwelling-house).
</p>
</wrapUp>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-13-3">
<num>
<noteRef href="#c13530071" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>
(3)
</num>
<content>
<p>. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .</p>
</content>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-13-4">
<num>(4)</num>
<intro>
<p>The assumptions as to title are—</p>
</intro>
<level class="para1" eId="schedule-4-paragraph-13-4-a">
<num>(a)</num>
<content>
<p>where the dwelling-house is in England and Wales or Northern Ireland and is a house, that the vendor was selling for an estate in fee simple with vacant possession and that the dwelling-house was to be conveyed with the same rights and subject to the same burdens as it would be if conveyed in pursuance of the right to buy legislation;</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-13-4-b">
<num>(b)</num>
<content>
<p>where the dwelling-house is in England and Wales or Northern Ireland and is a flat, that the vendor was granting a lease with vacant possession for a term of 125 years at a rent of £10 per annum and that the grant was to be made with the same rights and subject to the same burdens as it would be if made in pursuance of that legislation; and</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-13-4-c">
<num>(c)</num>
<content>
<p>where the dwelling-house is in Scotland, that it was available with vacant possession and with no heritable security constituted over any interest in it.</p>
</content>
</level>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-13-5">
<num>(5)</num>
<intro>
<p>
In sub-paragraph (4) above “
<term refersTo="#term-the-right-to-buy-legislation" eId="term-the-right-to-buy-legislation">the right to buy legislation</term>
” means—
</p>
</intro>
<level class="para1" eId="schedule-4-paragraph-13-5-a">
<num>(a)</num>
<content>
<p>
in relation to a dwelling-house in England and Wales, Part V of the
<noteRef href="#c13530081" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>
Housing Act 1985;
</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-13-5-b">
<num>(b)</num>
<content>
<p>
in relation to a dwelling-house in Northern Ireland, Chapter I of Part II of the
<noteRef href="#c13530091" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>
Housing (Northern Ireland) Order 1983;
</p>
</content>
</level>
<wrapUp>
<p>
and “
<term refersTo="#term-flat" eId="term-flat">flat</term>
” and “
<term refersTo="#term-house" eId="term-house">house</term>
” have the same meanings as in that legislation.
</p>
</wrapUp>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-13-6">
<num>(6)</num>
<content>
<p>The Treasury may by order amend sub-paragraph (1) above by substituting a different amount for any amount for the time being specified there.</p>
</content>
</subparagraph>
</paragraph>
</hcontainer>
</hcontainer>
<hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-II-crossheading-unfit-and-substandard-dwellinghouses">
<heading> Unfit and sub-standard dwelling-houses</heading>
<hcontainer name="subheading" class="schGroup7" eId="d25e207">
<heading/>
<paragraph eId="schedule-4-paragraph-14" class="schProv1">
<num>14</num>
<intro>
<p>Section 50 of this Act does not apply to—</p>
</intro>
<level class="para1" eId="schedule-4-paragraph-14-a">
<num>(a)</num>
<content>
<p>
a dwelling-house in England and Wales which is unfit for human habitation within the meaning of section 604 of the
<noteRef href="#c13530101" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>
Housing Act 1985 or does not have all the standard amenities within the meaning of section 508 of that Act;
</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-14-b">
<num>(b)</num>
<content>
<p>
a dwelling-house in Scotland which does not meet the tolerable standard described, for the purposes of the
<noteRef href="#c13530111" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>
Housing (Scotland) Act 1987, by section 86 of that Act or does not have all the standard amenities described in the first column of Part I of Schedule 18 to that Act; or
</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-14-c">
<num>(c)</num>
<content>
<p>
a dwelling-house in Northern Ireland which is unfit for human habitation within the meaning of Article 46 of the
<noteRef href="#c13530121" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>
Housing (Northern Ireland) Order 1981 or does not have all the standard amenities within the meaning of Article 59 of the
<noteRef href="#c13530131" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>
Housing (Northern Ireland) Order 1983.
</p>
</content>
</level>
</paragraph>
</hcontainer>
</hcontainer>
<hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-II-crossheading-dwellinghouses-already-let-etc">
<heading>
Dwelling-houses already let
<abbr title="et cetera" xml:lang="la">etc.</abbr>
</heading>
<hcontainer name="subheading" class="schGroup7" eId="d25e246">
<heading/>
<paragraph eId="schedule-4-paragraph-15" class="schProv1">
<num>15</num>
<subparagraph eId="schedule-4-paragraph-15-1">
<num>(1)</num>
<intro>
<p>
<ins class="first last" ukl:ChangeId="d29p32630" ukl:CommentaryRef="c13530141">
<noteRef uk:name="commentary" href="#c13530141" class="commentary"/>
Subject to sub-paragraphs (1A) to (1C) below, section 50
</ins>
of this Act does not apply to a dwelling-house if—
</p>
</intro>
<level class="para1" eId="schedule-4-paragraph-15-1-a">
<num>(a)</num>
<content>
<p>before the relevant date, the company or any of its subsidiaries had entered into arrangements for letting the whole or any part of the dwelling-house;</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-15-1-b">
<num>(b)</num>
<content>
<p>at that date, the whole or any part of the dwelling-house was let; or</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-15-1-c">
<num>(c)</num>
<content>
<p>after that date, the whole or any part of the dwelling-house has been let otherwise than on a qualifying tenancy.</p>
</content>
</level>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-15-1A">
<num>
<ins class="first" ukl:ChangeId="d29p32652">
<noteRef href="#c13530151" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>
(1A)
</ins>
</num>
<content>
<p>
<ins ukl:ChangeId="d29p32652">Section 50 of this Act is not precluded from applying to a dwelling-house by sub-paragraph (1)(a) above if the arrangements there mentioned were for letting to a person who was an owner-occupier of the dwelling-house before the relevant date.</ins>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-15-1B">
<num>
<ins ukl:ChangeId="d29p32652">(1B)</ins>
</num>
<intro>
<p>
<ins ukl:ChangeId="d29p32652">Section 50 of this Act is not precluded from applying to a dwelling-house by sub-paragraph (1)(b) above if the letting there mentioned was to a person—</ins>
</p>
</intro>
<level class="para1" eId="schedule-4-paragraph-15-1B-a">
<num>
<ins ukl:ChangeId="d29p32652">(a)</ins>
</num>
<content>
<p>
<ins ukl:ChangeId="d29p32652">who was an owner-occupier of the dwelling-house before the date of the letting, and</ins>
</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-15-1B-b">
<num>
<ins ukl:ChangeId="d29p32652">(b)</ins>
</num>
<content>
<p>
<ins ukl:ChangeId="d29p32652">to whom the dwelling-house or part is let on a qualifying tenancy by the company or any of its subsidiaries after the relevant date.</ins>
</p>
</content>
</level>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-15-1C">
<num>
<ins ukl:ChangeId="d29p32652">(1C)</ins>
</num>
<intro>
<p>
<ins ukl:ChangeId="d29p32652">Section 50 of this Act is not precluded from applying to a dwelling-house by sub-paragraph (1)(c) above if the letting there mentioned was to a person—</ins>
</p>
</intro>
<level class="para1" eId="schedule-4-paragraph-15-1C-a">
<num>
<ins ukl:ChangeId="d29p32652">(a)</ins>
</num>
<content>
<p>
<ins ukl:ChangeId="d29p32652">who was an owner-occupier of the dwelling-house before the relevant date, and</ins>
</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-15-1C-b">
<num>
<ins ukl:ChangeId="d29p32652">(b)</ins>
</num>
<content>
<p>
<ins class="last" ukl:ChangeId="d29p32652">to whom the dwelling-house or part is let on a qualifying tenancy by the company or any of its subsidiaries after the letting mentioned in sub-paragraph (1)(c).</ins>
</p>
</content>
</level>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-15-2">
<num>(2)</num>
<intro>
<p>In this paragraph—</p>
</intro>
<hcontainer name="definition">
<content>
<p>
<term refersTo="#term-let" eId="term-let">let</term>
” includes let under a licence and “
<term refersTo="#term-letting" eId="term-letting">letting</term>
” shall be construed accordingly;
</p>
</content>
</hcontainer>
<hcontainer name="definition">
<content>
<p>
<term refersTo="#term-the-relevant-date" eId="term-the-relevant-date">the relevant date</term>
” means the date when the company or any of its subsidiaries first acquired an interest in the dwelling-house (or the land which comprises the dwelling-house).
</p>
</content>
</hcontainer>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-15-3">
<num>
<ins class="first" ukl:ChangeId="d29p32721">
<noteRef href="#c13530161" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>
(3)
</ins>
</num>
<intro>
<p>
<ins ukl:ChangeId="d29p32721">For the purposes of this paragraph, a person shall be taken to have been an owner-occupier of a dwelling-house before the relevant date or, as the case may be, the date mentioned in sub-paragraph (1B)(a) above if—</ins>
</p>
</intro>
<level class="para1" eId="schedule-4-paragraph-15-3-a">
<num>
<ins ukl:ChangeId="d29p32721">(a)</ins>
</num>
<content>
<p>
<ins ukl:ChangeId="d29p32721">at any time before that date, he occupied the dwelling-house as his only or principal home and had a freehold interest in it, or</ins>
</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-15-3-b">
<num>
<ins ukl:ChangeId="d29p32721">(b)</ins>
</num>
<content>
<p>
<ins ukl:ChangeId="d29p32721">for a period of at least two years ending on that date, he occupied the dwelling-house as his only or principal home and had an interest in it under a lease for a term of years certain not less than twenty-one of which remained unexpired at that date.</ins>
</p>
</content>
</level>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-15-4">
<num>
<ins ukl:ChangeId="d29p32721">(4)</ins>
</num>
<intro>
<p>
<ins ukl:ChangeId="d29p32721">In the application of sub-paragraph (3) above to a dwelling-house in Scotland—</ins>
</p>
</intro>
<level class="para1" eId="schedule-4-paragraph-15-4-a">
<num>
<ins ukl:ChangeId="d29p32721">(a)</ins>
</num>
<content>
<p>
<ins ukl:ChangeId="d29p32721">for paragraph (a) there shall be substituted—</ins>
</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-15-4-">
<num>
<ins ukl:ChangeId="d29p32721">“(a)</ins>
</num>
<intro>
<p>
<ins ukl:ChangeId="d29p32721">at any time before that date he occupied the dwelling-house and—</ins>
</p>
</intro>
<level class="para2" eId="schedule-4-paragraph-15-4--i">
<num>
<ins ukl:ChangeId="d29p32721">(i)</ins>
</num>
<content>
<p>
<ins ukl:ChangeId="d29p32721">was the absolute owner of it, or</ins>
</p>
</content>
</level>
<level class="para2" eId="schedule-4-paragraph-15-4--ii">
<num>
<ins ukl:ChangeId="d29p32721">(ii)</ins>
</num>
<content>
<p>
<ins ukl:ChangeId="d29p32721">was the owner of the</ins>
<i>
<ins ukl:ChangeId="d29p32721">dominium utile</ins>
</i>
<ins ukl:ChangeId="d29p32721"> in it,”; and</ins>
</p>
</content>
</level>
</level>
<level class="para1" eId="schedule-4-paragraph-15-4-b">
<num>
<ins ukl:ChangeId="d29p32721">(b)</ins>
</num>
<content>
<p>
<ins ukl:ChangeId="d29p32721">in paragraph (b) the word “certain” shall be omitted.</ins>
</p>
</content>
</level>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-15-5">
<num>
<ins ukl:ChangeId="d29p32721">(5)</ins>
</num>
<content>
<p>
<ins class="last" ukl:ChangeId="d29p32721">In the application of sub-paragraph (3) above to a dwelling-house in Northern Ireland, any conveyance or assignment of an interest in it by way of mortgage shall be disregarded.</ins>
</p>
</content>
</subparagraph>
</paragraph>
</hcontainer>
</hcontainer>
<hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-II-crossheading-dwellinghouses-already-qualifying-for-relief">
<heading> Dwelling-houses already qualifying for relief</heading>
<hcontainer name="subheading" class="schGroup7" eId="d25e448">
<heading/>
<paragraph eId="schedule-4-paragraph-16" class="schProv1">
<num>16</num>
<subparagraph eId="schedule-4-paragraph-16-1">
<num>(1)</num>
<intro>
<p>Section 50 of this Act does not apply to a dwelling-house if—</p>
</intro>
<level class="para1" eId="schedule-4-paragraph-16-1-a">
<num>(a)</num>
<content>
<p>a certificate has been issued under section 306(2) of the Taxes Act 1988 (as modified by paragraph 10 above) by some other company (“the other company”); and</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-16-1-b">
<num>(b)</num>
<content>
<p>at any time after the issue of the shares to which that certificate related, the conditions mentioned in sub-paragraph (2) below were satisfied in relation to the dwelling-house (or a dwelling-house the whole or any part of which has been converted into or consists of the whole or any part of the dwelling-house).</p>
</content>
</level>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-16-2">
<num>(2)</num>
<intro>
<p>The conditions referred to in sub-paragraph (1) above are satisfied in relation to a dwelling-house at any time if, at that time—</p>
</intro>
<level class="para1" eId="schedule-4-paragraph-16-2-a">
<num>(a)</num>
<content>
<p>the dwelling-house is a dwelling-house to which section 50 of this Act applies in relation to the other company or any of its subsidiaries; and</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-16-2-b">
<num>(b)</num>
<content>
<p>an interest in the dwelling-house is owned by that company or any such subsidiary.</p>
</content>
</level>
</subparagraph>
</paragraph>
</hcontainer>
</hcontainer>
<hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-II-crossheading-dwellinghouses-qualifying-for-capital-allowances">
<heading> Dwelling-houses qualifying for capital allowances</heading>
<hcontainer name="subheading" class="schGroup7" eId="d25e493">
<heading/>
<paragraph eId="schedule-4-paragraph-17" class="schProv1">
<num>17</num>
<content>
<p>
Section 50 of this Act does not apply to a dwelling-house in respect of which the company is entitled to capital allowances under paragraph 2 of Schedule 12 to the
<noteRef href="#c13530171" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>
Finance Act 1982.
</p>
</content>
</paragraph>
</hcontainer>
</hcontainer>
<hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-II-crossheading-interpretation-of-certain-expressions-scotland">
<heading> Interpretation of certain expressions: Scotland</heading>
<hcontainer name="subheading" class="schGroup7" eId="d25e506">
<heading/>
<paragraph eId="schedule-4-paragraph-18" class="schProv1">
<num>18</num>
<content>
<p>In the application of the above provisions of this Part to Scotland, references to acquiring an interest shall be construed, if there is a contract to acquire the interest, as references to entering into that contract and for the purposes of paragraph 16(2)(b) above, a company or subsidiary shall be regarded as owning an interest during the period between its entering into such a contract as regards that interest and its acquiring the interest.</p>
</content>
</paragraph>
</hcontainer>
</hcontainer>
</part>
</hcontainer>
</hcontainer>
</body>
</act>
</akomaNtoso>