Explanatory Notes

Finance Act 2013

2013 CHAPTER 29

17 July 2013

Introduction

Sections 94174, Schedules 33, 34, 35: Annual Tax on Enveloped Dwellings

Details of the Sections

Section 120 – Acquisitions and disposals of chargeable interests

134.Subsection (1) ensures that acquisitions however effected are treated as such.

135.Subsection (2) treats the surrender or release of an interest as an acquisition and disposal.

136.Subsection (3) treats the variation of an interest as an acquisition or disposal for the purpose of this legislation.