433Meaning of “qualifying interest in land”U.K.
(1)In this Chapter “qualifying interest in land” means—
(a)a freehold interest in land in the United Kingdom, or
(b)a leasehold interest in land in the United Kingdom which is a term of years absolute.
This is subject to subsections (2) to (5).
(2)Subsection (3) applies if an individual with a beneficial interest in a freehold or leasehold interest mentioned in subsection (1)(a) or (b) makes a disposal to a charity of—
(a)the whole of the beneficial interest, and
(b)an easement, servitude, right or privilege so far as benefiting the land in question.
(3)The disposal mentioned in subsection (2)(b) is regarded for the purposes of this Chapter as a disposal by the individual of the whole of the individual's beneficial interest in a qualifying interest in land separate from the disposal mentioned in subsection (2)(a).
(4)If an individual who has a freehold or leasehold interest in land in the United Kingdom grants a lease for a term of years absolute to a charity of the whole or part of that land, the grant of the lease is regarded for the purposes of this Chapter as a disposal by the individual of the whole of the beneficial interest in the leasehold interest so granted.
(5)Neither an agreement to acquire a freehold interest nor an agreement for a lease is a qualifying interest in land.
(6)In the application of this section to Scotland—
(a)references to a freehold interest in land are to the interest of the owner,
(b)references to a leasehold interest in land which is a term of years absolute are to a tenant's right over or interest in a property subject to a lease,
(c)references to an agreement for a lease do not include missives of let that constitute an actual lease, and
(d)in subsection (4) the reference to granting a lease for a term of years absolute is to granting a lease.