PART 3

Annual tax on enveloped dwellings

Reliefs

Property traders: supplementary
142
1
Subsection (2) applies if on a day in a chargeable period (“the day of non-qualifying occupation”)—
a
a person carrying on a property trading business (“the property trader”) is entitled to a single-dwelling interest that is held as mentioned in section 141(1)(b), and
b
a non-qualifying individual is permitted to occupy the dwelling.
2
No subsequent day is relievable in the case of the single-dwelling interest by virtue of section 141(1) if—
a
the day falls within that chargeable period, or any of the subsequent 3 chargeable periods, and
b
the property trader or a relevant partner is entitled to the interest on that day.
3
If on the day of non-qualifying occupation mentioned in subsection (1) the property trader carries on the property trading business in partnership, “relevant partner” means any other person who is, at any time, a member of that partnership.
4
Subsection (5) applies if—
a
on a day in a chargeable period (“the day of non-qualifying occupation”) a person who is a non-qualifying individual in relation to a single-dwelling interest is occupying the dwelling in question, and
b
on an earlier day in that, or the preceding, chargeable period (“the earlier day”) the conditions in section 141(1)(a) and (b) are met in relation to the same single-dwelling interest.
5
The earlier day is not relievable by virtue of section 141(1) in the case of the single-dwelling interest if—
a
a person who is entitled to the interest on the earlier day is also entitled to it on the day of non-qualifying occupation, or
b
if the business mentioned in section 141(1) is carried on in partnership, a person who has at any time carried that business on in partnership is entitled to the interest on the day of non-qualifying occupation.
6
Subsection (5) does not apply in relation to the earlier day if a day that is relievable by virtue of section 133(1)(a) falls between the earlier day and the day of non-qualifying occupation.
7
For the purposes of this section and section 141—
a
“non-qualifying individual” has the meaning given by section 136(1);
b
occupation of any part of a dwelling is regarded as occupation of the dwelling.
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