Textual Amendments
F1Sch. A1 inserted (with effect in accordance with Sch. 10 para. 9 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 10 para. 1 (with Sch. 10 para. 9(2))
8(1)In this Schedule “UK residential property interest” means an interest in UK land—U.K.
(a)where the land consists of a dwelling,
(b)where and to the extent that the land includes a dwelling, or
(c)where the interest subsists under a contract for an off-plan purchase.
(2)For the purposes of sub-paragraph (1)(b), the extent to which land includes a dwelling is to be determined on a just and reasonable basis.
(3)In this paragraph—
“interest in UK land” has [F2the same meaning as it has for the purposes of section 1A(3)(b) of the 1992 Act (see section 1C of that Act);]
“the land”, in relation to an interest in UK land which is an interest subsisting for the benefit of land, is a reference to the land for the benefit of which the interest subsists;
“dwelling” has [F3the same meaning as it has for the purposes of Schedule 1B to the 1992 Act;]
“contract for an off-plan purchase” [F4means a contract for the acquisition of land consisting of, or including, a building, or part of a building, that is to be constructed or adapted for use as a dwelling.]
Textual Amendments
F2Words in Sch. A1 para. 8(3) substituted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 95(a)
F3Words in Sch. A1 para. 8(3) substituted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 95(b)
F4Words in Sch. A1 para. 8(3) substituted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 95(c)
9(1)In this Schedule—U.K.
“close company” means a company within the meaning of the Corporation Tax Acts which is (or would be if resident in the United Kingdom) a close company for the purposes of those Acts;
references to an interest in a close company are to the rights and interests that a participator in a close company has in that company.
(2)In this paragraph—
“participator”, in relation to a close company, means any person who is (or would be if the company were resident in the United Kingdom) a participator in relation to that company within the meaning given by section 454 of the Corporation Tax Act 2010;
references to rights and interests in a close company include references to rights and interests in the assets of the company available for distribution among the participators in the event of a winding-up or in any other circumstances.
10U.K.In this Schedule “partnership” means—
(a)a partnership within the Partnership Act 1890,
(b)a limited partnership registered under the Limited Partnerships Act 1907,
(c)a limited liability partnership formed under the Limited Liability Partnerships Act 2000 or the Limited Liability Partnerships Act (Northern Ireland) 2002, or
(d)a firm or entity of a similar character to either of those mentioned in paragraph (a) or (b) formed under the law of a country or territory outside the United Kingdom.]