http://www.legislation.gov.uk/ukpga/2013/29/section/113/notesExplanatory Notes to Finance Act 2013HM Revenue & CustomsHM TreasuryKing's Printer of Acts of Parliament2020-04-22
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2013/29" id="c00001" Class="UnitedKingdomPublicGeneralAct" Year="2013" Number="0029">Finance Act 2013</Citation>
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17 July 2013
Introduction<CitationSubRef id="c00560" URI="http://www.legislation.gov.uk/id/ukpga/2013/29/section/94" CitationRef="c00001" SectionRef="section-94">Sections 94</CitationSubRef> – <CitationSubRef id="c00561" URI="http://www.legislation.gov.uk/id/ukpga/2013/29/section/174" CitationRef="c00001" SectionRef="section-174">174</CitationSubRef>, <CitationSubRef id="c00563" URI="http://www.legislation.gov.uk/id/ukpga/2013/29/schedule/33" CitationRef="c00001" SectionRef="schedule-33">Schedules 33</CitationSubRef>, <CitationSubRef id="c00564" URI="http://www.legislation.gov.uk/id/ukpga/2013/29/schedule/34" CitationRef="c00001" SectionRef="schedule-34">34</CitationSubRef>, <CitationSubRef id="c00565" URI="http://www.legislation.gov.uk/id/ukpga/2013/29/schedule/35" CitationRef="c00001" SectionRef="schedule-35">35</CitationSubRef>: Annual Tax on Enveloped DwellingsDetails of the Sections
<CitationSubRef id="c00609" URI="http://www.legislation.gov.uk/id/ukpga/2013/29/section/113" CitationRef="c00001" SectionRef="section-113">Section 113</CitationSubRef> - Substantial performance of “off-plan” purchase
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Subsection (1) applies subsection (2) to substantial performance of a contract to acquire a chargeable interest in land or a building to be constructed or adapted, beginning after substantial performance of that contract.
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Subsection (2) defines the chargeable interest for the purposes of subsection (1)(b).
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Subsection (3) disapplies subsection (2) if the subject of the contractual obligations cease to have effect before the construction or adaptation work is started.
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Subsection (4) excludes a building that is used for a purpose specified in sections 116(2) or (3) of FA 2003 from being considered a dwelling under subsection (1).
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Subsection (5) defines “contract” and the meaning of “substantially performed” for this section.