Paragraph 5D F1F2
United Kingdom
Paragraph 3 does not apply to a chargeable transaction so far as its subject-matter consists of a higher threshold interest in relation to which the conditions in sub-paragraph (2) are met. Those conditions can only be met if the purchaser, or a relevant group member, carries on or is to carry on a relievable F3business.
The conditions are that—
the interest is acquired for the purpose of making the dwelling available to one or more qualifying employees or qualifying partners for use as living accommodation, and
the dwelling is to be made available as mentioned in paragraph (a) for purposes that are solely or mainly purposes of the relievable F4business.
For the purposes of the relief under this paragraph it does not matter whether or not the individuals mentioned in sub-paragraph (2)(a) are identified at the time of the chargeable transaction.
“Relievable business” means a trade or property rental business that is run on a commercial basis and with a view to profit.
In this paragraph references to making a dwelling available to a qualifying employee or qualifying partner include making it available to persons who are to share the accommodation with a qualifying employee or qualifying partner as that individual's family.
Where the purchaser is a company, “relevant group member” means a company which is a member of the same group of companies as the purchaser for the purposes mentioned in paragraph 1(2) of Schedule 7 (group relief).
Annotations
Textual amendments
- F1
Sch. 4A inserted (with effect in accordance with Sch. 35 para. 10 of the amending Act) by Finance Act 2012 (c. 14), Sch. 35 para. 4
- F2
Sch. 4A paras. 5A-5K and cross-headings inserted (with effect in accordance with Sch. 40 para. 8 of the amending Act) by Finance Act 2013 (c. 29), Sch. 40 para. 2(4)
- F3
Word in Sch. 4A para. 5D(1) substituted (with effect in accordance with s. 131(10) of the amending Act) by Finance Act 2016 (c. 24), s. 131(2)(a)
- F4
Word in Sch. 4A para. 5D(2)(b) substituted (with effect in accordance with s. 131(10) of the amending Act) by Finance Act 2016 (c. 24), s. 131(2)(b)
- F5
Sch. 4A para. 5D(4) substituted (with effect in accordance with s. 131(10) of the amending Act) by Finance Act 2016 (c. 24), s. 131(2)(c)
Notes on Schedule 4A
Modifications
- C1
Sch. 4A modified (17.7.2013) by Finance Act 2013 (c. 29), Sch. 40 para. 9(3)
- C2
Sch. 4A modified (temp.) (11.7.2023) by Finance (No. 2) Act 2023 (c. 30), Sch. 24 para. 3
Notes on Dwellings for occupation by certain employees etc of a relievable business
Textual amendments
- F3
Sch. 4A para. 5D cross heading substituted (with effect in accordance with s. 131(10) of the amending Act) by Finance Act 2016 (c. 24), s. 131(3)