21S“The relevant period” means the shorter of—
(a)the period of 3 years beginning with the effective date of the transaction, and
(b)the period beginning with the effective date of the transaction and ending with the date on which the buyer disposes of the dwelling, or the dwellings, to a person who is not connected with the buyer.
Commencement Information
I1 Sch. 5 para. 21 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2
22SIn relation to a transaction effected on completion of a contract that was substantially performed before completion, paragraph 21 applies as if references to the effective date of the transaction were to the date on which the contract was substantially performed.
Commencement Information
I2 Sch. 5 para. 22 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2