PART 2Residential property developer tax
Key concepts
34Meaning of “residential property developer”
1
A company is a residential property developer (“RP developer”) for the purposes of this Part if—
a
the company carries on residential property development activities, or
b
the company, or the company together with any other company which is a member of the same group as it, has or have a substantial interest in a relevant joint venture company.
2
See section 40 for the meaning of “relevant joint venture company” and the meaning of “substantial interest” in a relevant joint venture company.
3
A non-profit housing company is not an RP developer.
4
A company is a “non-profit housing company” for the purposes of this Part if it is—
a
a non-profit registered provider of social housing;
b
a registered social landlord under Part 1 of the Housing Act 1996 (registered social landlords in Wales);
c
a registered social landlord under Part 2 of the Housing (Scotland) Act 2010 (asp 17);
d
a registered housing association under Chapter 2 of Part 2 of the Housing (Northern Ireland) Order 1992 (S.I. 1992/1725 (N.I.));
5
The Treasury may by regulations make provision amending the definition of a non-profit housing company; and the regulations may make consequential provision amending this Part.