Section 140 – Property developers: supplementary
242.Subsection (1) applies subsection (2) if a non-qualifying individual is permitted to occupy the dwelling to which the property developer is entitled in the course of its trade.
243.Subsections (2) and (3) provide that no further day until the end of the next three chargeable years is relievable, if the same company or a member of a partnership of which the company is a member, continues to hold the relevant interest.
244.Subsections (4) and (5) ensure that if a non-qualifying individual occupies the dwelling at any point in a chargeable period, earlier days within the that or the preceding period cannot be relievable days, unless they were before the company (or another member of any partnership of which the company is a member) acquired entitlement to the single dwelling interest.
245.Subsection (6) provides that subsection (5) does not apply where there is an intervening day which was relievable by virtue of exploitation by renting to a third party in a property rental business.
246.Subsection (9) defines the terms “non-qualifying individual” for this section and sections 138 and 139(property developers), and provides that occupation of part of a dwelling is regarded as occupation of it all.
