PART 3

Annual tax on enveloped dwellings

Reliefs

Property traders
141
1
A day in a chargeable period is relievable in relation to a single-dwelling interest if on that day—
a
a person carrying on a property trading business is entitled to the interest, and
b
the interest is held as stock of the business and for the sole purpose of resale in the course of the business.
2
A single-dwelling interest in a dwelling is taken not to be held for the sole purpose of resale in the course of a property trading business at any time when a non-qualifying individual is permitted to occupy the dwelling.
3
In this Part “property trading business” means a business that—
a
consists of or includes activities in the nature of a trade of buying and selling dwellings, and
b
is carried on on a commercial basis and with a view to profit.
Pt. 3 applied (17.7.2014) by Finance Act 2014 (c. 26), s. 223(8)(9)(e)
Pt. 3 modified (temp.) (11.7.2023) by Finance (No. 2) Act 2023 (c. 30), Sch. 24 para. 2