Finance Act 2013
2013 CHAPTER 29
Introduction
Sections 94 – 174, Schedules 33, 34, 35: Annual Tax on Enveloped Dwellings
Details of the Sections
Section 107 – Chargeable interests
70.Subsection (1) defines what a chargeable interest is for this Part.
71.Subsection (2) provides that for this Part, when two or more people are jointly entitled to a chargeable interest, it will not be regarded as consisting of separate interests corresponding to their shares (if any) arising from joint entitlement, but will be viewed as a whole.
72.Subsection (3) excludes exempt interests from being chargeable interests.
73.Subsection (4) lists the exempt interests for the purposes of this Part.
74.Subsection (5) defines a security interest for the purposes of subsection (4) (exempt interests for this Part).
75.Subsection (6) states that in respect of the application of this Part in Scotland, the reference to “rentcharge” in subsection (5) means, in Scotland, a “feu duty” or a payment in section 56(1) of the Abolition of the Feudal Tenure etc Scotland Act.
76.Subsection (7) provides for the Treasury to provide by regulations that any other descriptions of interest in or right over a dwelling may be an exempt interest.
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