SCHEDULE 4

Relief for certain acquisitions of residential property
PART 6

Interpretation

Meaning of “property trader” and “principal”
25
1
A “property trader” means an entity listed in sub-paragraph (2) that carries on the business of buying and selling dwellings.
2
The entities are—
a
a company,
b
a limited liability partnership,
c
a partnership whose partners are all either companies or limited liability partnerships.
3
A “principal”—
a
in relation to a company, means a director,
b
in relation to a limited liability partnership, means a member,
c
in relation to a partnership mentioned in sub-paragraph (2)(c) means a partner or a principal of a partner.
26
For the purposes of this schedule—
a
anything done by or in relation to a company connected with a property trader is treated as done by or in relation to that property trader, and
b
references to the principals or employees of a property trader include the principals or employees of any such company.
Sch. 4 para. 25 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2
Sch. 4 para. 26 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2