SCHEDULES
F1SCHEDULE 4AARe-basing for non-residents in respect of UK land etc held on 5 April 2019
PART 4Direct disposals of assets partly chargeable before 6 April 2019
Introduction
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1
This Part of this Schedule applies to any direct disposal of UK land if—
a
neither Part 2 nor Part 3 of this Schedule applies to the disposal, and
b
the interest in UK land being disposed of was not a post-April 2015 asset that was fully residential before 6 April 2019.
2
For this purpose—
a
the interest in UK land being disposed of is a “post-April 2015 asset” if it was acquired by the person after 5 April 2015, and
b
the asset “was fully residential before 6 April 2019” if, in the period beginning with the day on which it was acquired and ending with 5 April 2019, every day on which the land to which the disposal relates consisted of a dwelling.
3
If the disposal is of an interest in land subsisting under a contract for the acquisition of land that, at any time in that period, did not consist of a building to be constructed or adapted for use as a dwelling, the disposal is taken to be not fully residential before 6 April 2019.
Sch. 4AA inserted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 17