SCHEDULES
F1SCHEDULE B1Disposals of UK residential property interests
Grants of options
3
(1)
Sub-paragraph (2) applies where—
(a)
a person (“P”) grants at any time an option binding P to sell an interest in UK land, and
(b)
a disposal by P of that interest in UK land at that time would be a disposal of a UK residential property interest by virtue of paragraph 1.
(2)
The grant of the option is regarded for the purposes of this Schedule as the disposal of an interest in the land in question (if it would not be so regarded apart from this paragraph).
(3)
Nothing in this paragraph affects the operation of section 144 in relation to the grant of the option (or otherwise).
(4)
Subsection (6) of section 144 (interpretation of references to “sale” etc) applies for the purposes of this paragraph as it applies for the purposes of that section.