SCHEDULES
F1SCHEDULE 1BResidential property gains
Other definitions
8
1
For the purposes of this Schedule a building is regarded as ceasing to exist from the time when either—
a
it has been demolished completely to ground level, or
b
it has been demolished to ground level except for a single facade (or a double facade if it is on a corner site) the retention of which is a condition or requirement of planning permission or development consent.
2
For the purposes of this Schedule the completion of the disposal of an interest in land is regarded as occurring—
a
at the time of the disposal, or
b
if the disposal is under a contract which is completed by a conveyance, transfer or other instrument, at the time when the instrument takes effect.
3
In this Schedule—
“building” includes a part of a building,
“development consent” means—
- a
in the case of land in the United Kingdom, development consent under the Planning Act 2008, and
- b
in the case of land outside the United Kingdom, consent corresponding to development consent under that Act, and
- a
“planning permission”—
- a
in the case of land in England or Wales, has the meaning given by section 336(1) of the Town and Country Planning Act 1990,
- b
in the case of land in Scotland, has the meaning given by section 227(1) of the Town and Country Planning (Scotland) Act 1997,
- c
in the case of land in Northern Ireland, has the meaning given by Article 2(2) of the Planning (Northern Ireland) Order 1991, and
- d
in the case of land outside the United Kingdom, means permission corresponding to any planning permission in relation to land anywhere in the United Kingdom.
- a
Sch. 1B inserted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 15