Section 117 Meaning of “major interest” in landI1

United Kingdom

(1)

References in this Part to a “major interest” in land shall be construed as follows.

(2)

In relation to land in England F1... , the references are to—

(a)

an estate in fee simple absolute, or

(b)

a term of years absolute,

whether subsisting at law or in equity.

F2(3)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4)

In relation to land in Northern Ireland, the references are to—

(a)

any freehold estate, or

(b)

any leasehold estate,

whether subsisting at law or in equity.

Annotations

F1: Words in s. 117(2) omitted (1.4.2018 with effect in accordance with s. 16(4)(5) of the amending Act) by virtue of Wales Act 2014 (c. 29), s. 29(2)(b)(3), Sch. 2 para. 8; S.I. 2018/214, art. 2(a)
F2: S. 117(3) omitted (with effect in accordance with s. 29(4) of the amending Act) by virtue of Scotland Act 2012 (c. 11), s. 44(2)(b)(3)(b), Sch. 3 para. 20 (with s. 29(5)(6)); S.I. 2015/637, art. 2

I1: Pt. 4 wholly in force at Royal Assent subject to Sch. 19, see s. 124, Sch. 19 para. 1(1)

C1: Pt. 4 construed as one with S.I. 2006/575, reg. 43 (6.4.2006) by The Pension Protection Fund (Tax) Regulations 2006 (S.I. 2006/575), regs. 1, 43(4)
C2: Pt. 4 modified (coming into force at 2 p.m. on 6.12.2006) by The Stamp Duty Land Tax (Variation of the Finance Act 2003) Regulations 2006 (S.I. 2006/3237), regs. 1, 2, Sch.
C3: Pt. 4 modified (17.7.2013) by Finance Act 2013 (c. 29), s. 194(8)-(12)
C4: Pt. 4 applied (17.7.2014) by Finance Act 2014 (c. 26), ss. 223(8)(9)(d)
C5: Pt. 4 modified (temp.) (22.7.2020) by Stamp Duty Land Tax (Temporary Relief) Act 2020 (c. 15), s. 1 (as amended (10.6.2021) by 2021 c. 26, s. 87(2))
C6: Pt. 4 modified (temp.) (10.6.2021) by 2020 c. 15, s. 1A (as inserted by Finance Act 2021 (c. 26), s. 87(3))
C7: Pt. 4 applied (19.3.2025) by The Co-ownership Contractual Schemes (Tax) Regulations 2025 (S.I. 2025/200), regs. 1(2), 29(2)(5) (with reg. 63)
C8: Pt. 4 modified (19.3.2025) by The Co-ownership Contractual Schemes (Tax) Regulations 2025 (S.I. 2025/200), regs. 1(2), 28, 30 (with reg. 63)