Finance Act 2013
2013 CHAPTER 29
Introduction
Sections 94 – 174, Schedules 33, 34, 35: Annual Tax on Enveloped Dwellings
Details of the Sections
Section 125 – Dwellings produced from other dwellings
163.Subsection (1) applies this section where as a result of some structural alterations, an existing building that is a dwelling or dwellings, becomes a different dwelling or dwellings.
164.Subsection (2) defines the point when it is determined that a person has a single-dwelling interest in the old or new dwelling. This is when the conversion is completed, the old dwelling ceases to exist and the new dwelling has come into existence.
165.Subsection (3) defines the valuation date for the new dwelling as the day after the conversion is completed.
166.Subsection (4) defines when the conversion is completed as being the end of the day on which the new dwelling is, or all new dwellings are treated as having come into existence for the purposes of the legislation listed in this subsection.
167.Subsection (5) provides that references to “a building” also include a part of a building.
- Previous
- Explanatory Notes Table of contents
- Next