{
  "url": "https://openlegislation.uk/finance-act-1988/schedule-4/paragraph-15",
  "json_url": "https://openlegislation.uk/finance-act-1988/schedule-4/paragraph-15.json",
  "legislation": "ukpga/1988/39",
  "legislation_title": "Finance Act 1988",
  "legislation_url": "https://openlegislation.uk/finance-act-1988",
  "path": "schedule/4/paragraph/15",
  "kind": "paragraph",
  "number": "15",
  "heading": null,
  "text": "(1) Subject to sub-paragraphs (1A) to (1C) below, section 50 of this Act does not apply to a dwelling-house if—\n(a) before the relevant date, the company or any of its subsidiaries had entered into arrangements for letting the whole or any part of the dwelling-house;\n(b) at that date, the whole or any part of the dwelling-house was let; or\n(c) after that date, the whole or any part of the dwelling-house has been let otherwise than on a qualifying tenancy.\n(1A) Section 50 of this Act is not precluded from applying to a dwelling-house by sub-paragraph (1)(a) above if the arrangements there mentioned were for letting to a person who was an owner-occupier of the dwelling-house before the relevant date.\n(1B) Section 50 of this Act is not precluded from applying to a dwelling-house by sub-paragraph (1)(b) above if the letting there mentioned was to a person—\n(a) who was an owner-occupier of the dwelling-house before the date of the letting, and\n(b) to whom the dwelling-house or part is let on a qualifying tenancy by the company or any of its subsidiaries after the relevant date.\n(1C) Section 50 of this Act is not precluded from applying to a dwelling-house by sub-paragraph (1)(c) above if the letting there mentioned was to a person—\n(a) who was an owner-occupier of the dwelling-house before the relevant date, and\n(b) to whom the dwelling-house or part is let on a qualifying tenancy by the company or any of its subsidiaries after the letting mentioned in sub-paragraph (1)(c).\n(2) In this paragraph—\n“let” includes let under a licence and “letting” shall be construed accordingly;\n“the relevant date” means the date when the company or any of its subsidiaries first acquired an interest in the dwelling-house (or the land which comprises the dwelling-house).\n(3) For the purposes of this paragraph, a person shall be taken to have been an owner-occupier of a dwelling-house before the relevant date or, as the case may be, the date mentioned in sub-paragraph (1B)(a) above if—\n(a) at any time before that date, he occupied the dwelling-house as his only or principal home and had a freehold interest in it, or\n(b) for a period of at least two years ending on that date, he occupied the dwelling-house as his only or principal home and had an interest in it under a lease for a term of years certain not less than twenty-one of which remained unexpired at that date.\n(4) In the application of sub-paragraph (3) above to a dwelling-house in Scotland—\n(a) for paragraph (a) there shall be substituted—\n“(a) at any time before that date he occupied the dwelling-house and—\n(i) was the absolute owner of it, or\n(ii) was the owner of thedominium utile in it,”; and\n(b) in paragraph (b) the word “certain” shall be omitted.\n(5) In the application of sub-paragraph (3) above to a dwelling-house in Northern Ireland, any conveyance or assignment of an interest in it by way of mortgage shall be disregarded.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in Sch. 4 para. 15(1) substituted (16.7.1992) by Finance (No. 2) Act 1992 (c. 48), s. 40(2)(5)."
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Sch. 4 para. 15(1A)-(1C) inserted (16.7.1992) by Finance (No. 2) Act 1992 (c. 48), s. 40(3)(5)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Sch. 4 para. 15(3)-(5) added (16.7.1992) by Finance (No. 2) Act 1992 (c. 48), s. 40(4)(5)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1988/39/schedule/4/paragraph/15",
    "retrieved_at": "2026-10-29T09:47:50.591815+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}