Finance Act 2013 (c. 29)

PART 3 U.K. Annual tax on enveloped dwellings

Adjustment of amount charged U.K.

105 “Adjusted chargeable amount” U.K.

(1) In relation to a person on whom tax is charged for a chargeable period with respect to a single-dwelling interest, the “adjusted chargeable amount” is the total of the daily amounts for all the days in the period on which the chargeable person is within the charge with respect to the interest.

(2) The daily amount for any such day (“the actual day”) is—

where—

“Y” is the number of days in the chargeable period;

“A” is the annual chargeable amount for the single-dwelling interest, determined (under section 99(4)) on the basis that the actual day is the relevant day.

106 Adjustment of amount chargeable U.K.

(1) Where tax is charged for a chargeable period with respect to a single-dwelling interest and the adjusted chargeable amount is greater than the initial charged amount, the amount of tax charged is taken to be increased to the adjusted chargeable amount.

(2) In this section “the initial charged amount” means the amount of tax charged under section 99 for the period in respect of the interest.

(3) Subsection (4) applies where—

(a) tax is charged for a chargeable period with respect to a single-dwelling interest,

(b) the adjusted chargeable amount is less than the initial charged amount, and

(c) a claim for relief is made under this subsection.

(4) The amount of tax charged for the period with respect to the interest is taken to be reduced (at the end of the chargeable period) to the adjusted chargeable amount.

(5) Relief under subsection (3) must be claimed—

(a) in an annual tax on enveloped dwellings return, or

(b) by amending an annual tax on enveloped dwellings return.

(6) The claim must be delivered by the end of the chargeable period following the one to which the claim relates.

(7) Relief under subsection (3) may be given by repayment of tax or otherwise.

(8) See also section 160 (return of adjusted amount chargeable); and see section 163(2) for provision about payment of additional tax by reference to the adjusted chargeable amount.