SCHEDULE 4Relief for certain acquisitions of residential property
PART 5Withdrawal of relief
Relief under Part 4
I116
Relief under Part 4 of this schedule (acquisition by property trader from individual where chain of transactions breaks down) is withdrawn if the property trader—
a
spends more than the permitted amount on refurbishment of the old dwelling,
b
grants a lease or licence of the old dwelling, or
c
permits any of its principals or employees (or any person connected with any of its principals or employees) to occupy the old dwelling.