# Finance Act 2004, Paragraph 10

Extent: E+W+S+N.I.

(1) Residential property is not taxable property in relation to a pension scheme if Condition A or B is met.
(2) Condition A is met if the property is (or, if unoccupied, is to be) occupied by an employee who—
(a) is neither a member of the pension scheme nor connected with such a member,
(b) is not connected with the employer, and
(c) is required as a condition of employment to occupy the property.
(3) Condition B is met if the property is (or, if unoccupied, is to be)—
(a) occupied by a person who is neither a member of the pension scheme nor connected with such a member, and
(b) used in connection with business premises held as an investment of the pension scheme.
(4) Section 1122 of the Corporation Tax Act 2010 (connected persons) applies for the purposes of this paragraph.

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Source: https://www.legislation.gov.uk/ukpga/2004/12/schedule/29A/paragraph/10 (the official version)
Page: https://openlegislation.uk/finance-act-2004/schedule-29A/paragraph-10
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.