Textual Amendments
F1Pt. 1 substituted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 2
(1)For the purposes of section 1A(3)(c) the following questions are determined in accordance with the provision made by Schedule 1A—
(a)whether the asset being disposed of derives at least 75% of its value from UK land, and
(b)whether the person making the disposal has a substantial indirect interest in the UK land at the time of the disposal.
(2)The provision made by Schedule 1A is not to be taken as affecting the meaning of “substantial” in other contexts.]