Point in time view as at 01/04/2010.
Corporation Tax Act 2010, Section 214 is up to date with all changes known to be in force on or before 12 June 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(1)This section applies if the qualifying investment is a qualifying interest in land.
(2)It applies if two or more persons (“the owners”)—
(a)are jointly beneficially entitled to the qualifying interest in land, or
(b)are, taken together, beneficially entitled in common to the qualifying interest in land.
(3)Relief as a result of this Chapter is available if—
(a)at least one of the owners is a qualifying company, and
(b)all the owners dispose of the whole of their beneficial interests in the qualifying interest in land to the charity.
(4)Relief as a result of this Chapter is available to each of the owners which is a qualifying company (and section 215 applies).
(5)A company is a qualifying company if it is not itself a charity.
(6)Subsection (7) applies if one or more of the owners is not a company.
(7)For the purpose of determining whether the owners' beneficial interests are disposed of as mentioned in subsection (3)(b), section 205(2) to (4) applies as if references to a company included references to a person who is not a company.
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