Textual Amendments
F1Sch. B1 inserted (with effect in accordance with Sch. 7 para. 60 of the amending Act) by Finance Act 2015 (c. 11), Sch. 7 para. 36
1(1)For the purposes of this Act, the disposal by a person (“P”) of an interest in UK land (whether made before or after this Schedule comes into force) is a “disposal of a UK residential property interest” if the first or second condition is met.U.K.
(2)The first condition is that—
(a)the land has at any time in the relevant ownership period consisted of or included a dwelling, or
(b)the interest in UK land subsists for the benefit of land that has at any time in the relevant ownership period consisted of or included a dwelling.
(3)The second condition is that the interest in UK land subsists under a contract for an off-plan purchase.
(4)In sub-paragraph (2) “relevant ownership period” means the period—
(a)beginning with the day on which P acquired the interest in UK land or [F2the relevant date] (whichever is later), and
(b)ending with the day before the day on which the disposal occurs.
[F3(4A)In sub-paragraph (4) “the relevant date” means—
(a)for the purpose of determining whether a disposal is a non-resident CGT disposal, 6 April 2015;
(b)for any other purpose, 31 March 1982.]
(5)If the interest in UK land disposed of by P as mentioned in sub-paragraph (1) results from interests in UK land which P has acquired at different times (“the acquired interests”), P is regarded for the purposes of sub-paragraph (4)(a) as having acquired the interest when P first acquired any of the acquired interests.
(6)In this paragraph—
“contract for an off-plan purchase” means 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;
“dwelling” has the meaning given by paragraph 4.
(7)Paragraphs 10 and 21 of Schedule 4ZZB [F4and paragraphs 6 and 20 of Schedule 4ZZC] contain further provision about interests under contracts for off-plan purchases.]
Textual Amendments
F2Words in Sch. B1 para. 1(4) substituted (with effect in accordance with s. 83(17) of the amending Act) by Finance Act 2016 (c. 24), Sch. 11 para. 4(a)
F3Sch. B1 para. 1(4A) inserted (with effect in accordance with s. 83(17) of the amending Act) by Finance Act 2016 (c. 24), Sch. 11 para. 4(b)
F4Words in Sch. B1 para. 1(7) inserted (with effect in accordance with s. 83(17) of the amending Act) by Finance Act 2016 (c. 24), Sch. 12 para. 4