Finance Act 2018

Previous residence required to be disposed of entirely

2 (1) Paragraph 3 (single dwelling transactions: purchaser is an individual) is amended as follows.

(2) In sub-paragraph (6)—

(a) after paragraph (b) insert—

“(ba) immediately after the effective date of the previous transaction, neither the purchaser nor the purchaser’s spouse or civil partner had a major interest in the sold dwelling,” and

(b) in paragraph (c) for “that period of three years” substitute “the period of three years referred to in paragraph (b)”.

(3) After sub-paragraph (6) insert—

“(6A) Sub-paragraph (6)(ba) does not apply in relation to a spouse or civil partner of the purchaser if the two of them were not living together (see paragraph 9(3)) on the effective date of the transaction concerned.”

(4) In sub-paragraph (7) after paragraph (b) (but before “and”) insert—

“(ba) immediately after the effective date of that other land transaction, neither the purchaser nor the purchaser’s spouse or civil partner has a major interest in the sold dwelling,”.

(5) After sub-paragraph (7) insert—

“(8) Sub-paragraph (7)(ba) does not apply in relation to a spouse or civil partner of the purchaser if the two of them are not living together (see paragraph 9(3)) on the effective date of that other land transaction.”