Paragraph 5 Whether individual “UK resident” in relation to a chargeable transaction: special casesF1

(1)

For the purposes of this Schedule, an individual is “UK resident” in relation to a chargeable transaction to which this paragraph applies if the individual is present in the United Kingdom on at least 183 days during the period that—

(a)

begins with the day 364 days before the effective date of the chargeable transaction, and

(b)

ends with the effective date of the chargeable transaction.

(2)

This paragraph applies to a chargeable transaction if any of conditions A to C is met in relation to the transaction.

(3)

Condition A is that the purchaser is, or (if there is more than one) the purchasers include—

(a)

a company, or

(b)

a person acting as a trustee of a unit trust scheme.

(4)

Condition B is that the purchaser is, or (if there is more than one) the purchasers include, an individual who is treated as entering into the transaction by virtue of paragraph 2 of Schedule 15 (transaction entered into for the purposes of a partnership treated as entered into by partners).

(5)

Condition C is that—

(a)

the purchaser is, or (if there is more than one) the purchasers include, an individual who is acting as a trustee of a settlement, and

(b)

under the terms of the settlement no beneficiary is entitled—

(i)

to occupy the dwelling or dwellings for life, or

(ii)

to income earned in respect of the dwelling or dwellings.

(6)

References in this paragraph to an individual being present in the United Kingdom on a day are to the individual being present in the United Kingdom at the end of that day.

(7)

This paragraph is subject to paragraph 12 (spouses and civil partners of UK residents).

Annotations

Textual amendments

F1: Sch. 9A inserted (with effect in accordance with Sch. 16 para. 6 of the amending Act) by Finance Act 2021 (c. 26), Sch. 16 para. 5