is being exploited as a source of rents or other receipts (other than excluded rents) in the course of a qualifying property rental business carried on by a person entitled to the interest, or

steps are being taken to secure that the interest will, without undue delay, be so exploited in the course of a qualifying property rental business that is being carried on, or is to be carried on, by a person entitled to the interest.

the question whether or not a business is a property rental business for the purposes of subsection (3) is determined without reference to whether or not any profits of the business are chargeable to corporation tax (and section 204(2) of CTA 2009 is therefore disregarded), and

for the purposes of this subsection the “rents or other receipts” referred to in section 207(1) of CTA 2009 are taken not to include excluded rents

on day X the dwelling is unoccupied and any of the first to fourth conditions is met (see below),

day X is preceded by one or more days (“qualifying days”) that are relievable under section 133 in relation to the interest and on which P, or a relevant partner, was entitled to the interest, and

the days (if any) between day X and the last of the qualifying days to precede day X are all relievable under this section.

a single-dwelling interest to which a person (“the landlord”) is entitled is being exploited as mentioned in section 133(1)(a), or steps are being taken to secure that the interest will be so exploited, as mentioned in section 133(1)(b), and

a non-qualifying individual is permitted to occupy the dwelling.

the landlord is entitled to the single-dwelling interest, or

if the landlord carried on or (as the case requires) intended to carry on the property rental business in partnership, another member of the partnership is entitled to the interest.

a person who is entitled to the single-dwelling interest on the day of non-qualifying occupation, or

if a person falling within paragraph (a) is or has been a member of a partnership whose members have at any time exploited the single-dwelling interest as a source of rents and receipts in a property rental business, any other member of that partnership.

“day of qualifying use”, in relation to a single-dwelling interest, means a day that is relievable in the case of the interest by virtue of section 133(1)(a);

occupation of any part of a dwelling is regarded as occupation of the dwelling.

an individual who is entitled to the interest (otherwise than as a member of a partnership),

an individual (“a connected person”) who is connected with a person entitled to the interest,

if a person is entitled to the interest as a member of a partnership, an individual who is, or is connected with, a qualifying member of that partnership,

an individual (“a relevant settlor”) who is the settlor in relation to a settlement of which a trustee is (in the capacity of trustee) connected with a person who is entitled to the interest,

the spouse or civil partner of a connected person or of a relevant settlor,

a relative of a connected person or of a relevant settlor, or the spouse or civil partner of a relative of a connected person or of a relevant settlor,

a relative of the spouse or civil partner of a connected person or of a relevant settlor,

the spouse or civil partner of a person falling within paragraph (g), or

an individual who is a major participant in a relevant collective investment scheme or is connected with a major participant in a relevant collective investment scheme.

in the income profits of the partnership, or

in the partnership's assets.

is entitled to a share of at least 50% either of all the profits or income arising from the scheme or of any profits or income arising from the scheme that may be distributed to participants, or

would in the event of the winding up of the scheme be entitled to 50% or more of the assets of the scheme that would then be available for distribution among the participants.

that the dwelling will (in that or a future chargeable period) be exploited as a source of income in the course of a qualifying trade such as is mentioned in subsection (2), and

that it will be so exploited without delay, except so far as delay is justified by commercial considerations or cannot otherwise be avoided.

a person carrying on a property development trade (“the property developer”) is entitled to the interest, and

the interest is held exclusively for the purpose of developing and reselling the land in the course of the trade.

consists of or includes buying and developing for resale residential or non-residential property, and

is run on a commercial basis and with a view to profit.

a person (“the property developer”) is on that day entitled to a single-dwelling interest (“the returned interest”) that was acquired (by the relevant person) in the course of a property development trade, and

that acquisition (“the reverse acquisition”) was part of a qualifying exchange.

if the property developer is entitled to the returned interest as a member of a partnership, the persons who acquired the interest as members of the partnership, or

otherwise, the property developer (and any person who acquired the returned interest jointly with the property developer).

it was made by way of transfer,

the person from whom the acquisition was made itself acquired (by way of grant or transfer) a chargeable interest in or over a new dwelling from the relevant person, and

each of those acquisitions was entered into in consideration of the other.

it has been constructed for use as a single dwelling and has not previously been occupied, or

it has been adapted for use as a single dwelling and has not been occupied since its adaptation.

a person carrying on a property development trade (“the property developer”) is entitled to a single-dwelling interest that has been acquired in the course of that trade (whether or not the acquisition was part of a qualifying exchange for the purposes of section 139), and

a non-qualifying individual is permitted to occupy the dwelling.

the day falls within that chargeable period, or any of the subsequent 3 chargeable periods, and

there is continuity of ownership on that day.

the property developer is entitled to the single-dwelling interest, or

if the property developer carried on the property development trade in partnership, another member of the partnership is entitled to the interest.

on a day in a chargeable period (“the day of non-qualifying occupation”) a person who is a non-qualifying individual in relation to a single-dwelling interest is occupying the dwelling in question, and

on an earlier day in that, or the preceding, chargeable period (“the earlier day”) the conditions in section 138(1)(a) and (b) are met in relation to the same single-dwelling interest.

a person who is entitled to the interest on the earlier day is also entitled to it on the day of non-qualifying occupation, or

if the trade mentioned in section 138(1) is carried on in partnership, a person who has at any time carried that business on in partnership is entitled to the interest on the day of non-qualifying occupation.

on a day in a chargeable period (“the day of non-qualifying occupation”) a person who is a non-qualifying individual in relation to a single-dwelling interest is occupying the dwelling in question, and

on an earlier day in that, or the preceding, chargeable period (“the earlier day”) the conditions in section 139(1)(a) and (b) are met in relation to the same single-dwelling interest.

a person who is entitled to the interest on the earlier day is also entitled to it on the day of non-qualifying occupation, or

where the trade mentioned in section 139(1) is carried on in partnership, a person who has at any time carried that trade on in partnership is entitled to the interest on the day of non-qualifying occupation.

“non-qualifying individual” has the meaning given by section 136(1);

occupation of any part of a dwelling is regarded as occupation of the dwelling.

a person carrying on a property trading business is entitled to the interest, and

the interest is held as stock of the business and for the sole purpose of resale in the course of the business.

consists of or includes activities in the nature of a trade of buying and selling dwellings, and

is carried on on a commercial basis and with a view to profit.

a person carrying on a property trading business (“the property trader”) is entitled to a single-dwelling interest that is held as mentioned in section 141(1)(b), and

a non-qualifying individual is permitted to occupy the dwelling.

the day falls within that chargeable period, or any of the subsequent 3 chargeable periods, and

the property trader or a relevant partner is entitled to the interest on that day.

on a day in a chargeable period (“the day of non-qualifying occupation”) a person who is a non-qualifying individual in relation to a single-dwelling interest is occupying the dwelling in question, and

on an earlier day in that, or the preceding, chargeable period (“the earlier day”) the conditions in section 141(1)(a) and (b) are met in relation to the same single-dwelling interest.

a person who is entitled to the interest on the earlier day is also entitled to it on the day of non-qualifying occupation, or

if the business mentioned in section 141(1) is carried on in partnership, a person who has at any time carried that business on in partnership is entitled to the interest on the day of non-qualifying occupation.

“non-qualifying individual” has the meaning given by section 136(1);

occupation of any part of a dwelling is regarded as occupation of the dwelling.

a financial institution carrying on a business that involves the lending of money is entitled to the interest,

the financial institution has acquired the interest in the course of that business and in connection with those lending activities, and

the interest is held with the intention that it will be sold in the course of that business without delay (except so far as delay is justified by commercial considerations or cannot be avoided).

a financial institution that carries on a business involving the lending of money is entitled to a single-dwelling interest that has been acquired by it as mentioned in section 143(1)(b), and

a non-qualifying individual is permitted to occupy the dwelling.

the day falls within that chargeable period, or any of the subsequent 3 chargeable periods, and

there is continuity of ownership on that day.

the financial institution is entitled to the single-dwelling interest, or

if the financial institution carried on the business mentioned in subsection (1)(a) in partnership, another member of the partnership is entitled to the interest.

on a day in a chargeable period (“the day of non-qualifying occupation”) a person who is a non-qualifying individual in relation to a single-dwelling interest is occupying the dwelling in question, and

on an earlier day in that, or the preceding, chargeable period (“the earlier day”) the conditions in section 143(1)(a) to (c) are met in relation to the same single-dwelling interest.

a person who is entitled to the interest on the earlier day is also entitled to it on the day of non-qualifying occupation, or

if the business mentioned in section 143(1) is carried on in partnership, a person who has at any time carried that business on in partnership is entitled to the interest on the day of non-qualifying ownership.

“non-qualifying individual” has the meaning given by section 136(1);

occupation of any part of a dwelling is regarded as occupation of the dwelling.

P has, as plan provider, entered into a regulated home reversion plan relating to the single dwelling interest, and

the occupation condition is met on that day.

the single dwelling interest is being held with the intention that it will be sold without delay (except so far as delay is justified by commercial considerations or cannot be avoided), and

no non-qualifying individual is permitted to occupy the dwelling (or any part of it).

an arrangement which P entered into before 6 April 2007 is treated for the purposes of this section as a regulated home reversion plan entered into by P as plan provider if that arrangement would have been so treated for the purposes of article 63B(1) of the Regulated Activities Order had P entered into that arrangement on the day mentioned in subsection (1);

an arrangement in relation to which P acquired rights or obligations before 6 April 2007 is treated for the purposes of this section as a regulated home reversion plan entered into by P as plan provider if that arrangement would have been so treated for the purposes of article 63B(1) of the Regulated Activities Order had P acquired those rights or obligations on the day mentioned in subsection (1).

a person (“P”) is entitled to a single-dwelling interest,

P, or a relevant group member, carries on a qualifying trade F6or qualifying property rental business ,

the interest is held for the purpose of making the dwelling available to one or more qualifying employees or qualifying partners for use as living accommodation, and

the dwelling is, or is to be, made available as mentioned in paragraph (c) for purposes that are solely or mainly purposes of the F7qualifying trade or qualifying property rental business .

in the income profits of the partnership, or

in any company that is entitled to the single-dwelling interest mentioned in section 145(1)(a), or

in the partnership's assets.

provides excluded domestic services.

if the conditions in section 116(2) are met in relation to the relevant dwelling and another dwelling, that other dwelling;

a dwelling that is linked to the relevant dwelling, as described in section 117(1).

10% or more of the share capital of C,

10% or more of the issued share capital of C,

10% or more of the voting power in C,

so much of the issued share capital of C as would, on the assumption that the whole of the income of C were distributed among the participators, entitle P to receive 10% or more of the amount so distributed, or

such rights as would entitle P, in the event of the winding up of C or in any other circumstances, to receive 10% or more of the assets of C which would then be available for distribution among the participators.

is entitled to acquire at a future date, or

will at a future date be entitled to acquire.

possesses any rights or powers on behalf of another person (“A”), or

may be required to exercise any rights or powers on A's direction or behalf,

the rights and powers of any company of which the person has, or the person and associates of the person have, control;

the rights and powers of any two or more companies within paragraph (a);

the rights and powers of any associate of the person (or of any two or more associates of the person).

include those attributed to a company or associate under subsection (5), but

do not include those attributed to an associate under subsection (6).

a company (“the management company”) holds the single-dwelling interest for the purpose of making the flat available as caretaker accommodation,

the flat is contained in premises which also contain two or more other flats,

the tenants of at least two of the other flats in the premises are members of the management company,

the management company owns the freehold of the premises, and

the management company is not carrying on a trade or property rental business.

a dwelling (“the farmhouse”) forms part of land occupied for the purposes of a qualifying trade of farming, and

a person carrying on the trade is entitled to, or connected with a person who is entitled to, a single-dwelling interest in the farmhouse.

by a farm worker who occupies it for the purposes of the trade, or

by a former long-serving farm worker, or the surviving spouse or civil partner of a former farm worker.

on a commercial basis, and

with a view to profit.

the day-to-day work of the trade, or

the direction and control of the conduct of the trade.

a qualifying period of 3 or more years, or

qualifying periods together amounting to 3 or more years within a 5 year period.

the individual occupied the farmhouse for the purposes of the trade,

the land of which the farmhouse forms part was occupied for the purposes of the trade,

a person who is entitled to the single-dwelling interest in the farmhouse on the day mentioned in section 148(1) was entitled to that interest.

a profit-making registered provider of social housing (P) is entitled to the interest, and

P's acquisition of the interest (or of any part of the interest) was funded with the assistance of public subsidy.

a F14qualifying housing provider F15... is entitled to the interest, and

the condition in subsection (3) is met.

the F16qualifying housing provider is controlled by its tenants,

the person from whom the F16qualifying housing provider acquired the interest (or any part of the interest) is a qualifying body, or

the F16qualifying housing provider's acquisition of the interest (or of any part of the interest) was funded with the assistance of a public subsidy.

subsection (2) of section 71 of FA 2003 applies in relation to a reference to a qualifying housing provider controlled by its tenants as it applies to a reference in that section to a non-profit registered provider of social housing controlled by its tenants;

the rules of the association comply with subsection (2).

must restrict membership to persons who are tenants, or prospective tenants, of the association,

must preclude the granting or assignment of tenancies to persons other than members,

must prevent members from transferring any of their shares,

must prevent members from receiving any more than the nominal value of their shares on a return of share capital, and

must confer on members equal voting rights.