SCHEDULES

F1SCHEDULE 4AARe-basing for non-residents in respect of UK land etc held on 5 April 2019

Annotations:
Amendments (Textual)
F1

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

PART 5Miscellaneous

Interpretation

22

1

In this Schedule—

a

any reference to an interest in UK land is to be read in accordance with section 1C (and any reference to land is to be read in accordance with that section), and

b

any reference to an asset (other than an interest in UK land) deriving at least 75% of its value from UK land where a person has a substantial indirect interest in that land is to be read in accordance with Schedule 1A.

2

If an interest in UK land disposed of by a person results from interests in UK land acquired by the person at different times, the person is regarded for the purposes of this Schedule as having acquired the interest disposed of at the time of the first acquisition.

3

For the purposes of this Schedule, whether a building is a dwelling is determined in accordance with Schedule 1B.