{
  "url": "https://openlegislation.uk/finance-act-2013/section-102",
  "json_url": "https://openlegislation.uk/finance-act-2013/section-102.json",
  "legislation": "ukpga/2013/29",
  "legislation_title": "Finance Act 2013",
  "legislation_url": "https://openlegislation.uk/finance-act-2013",
  "path": "section/102",
  "kind": "section",
  "number": "102",
  "heading": "Taxable value",
  "text": "(1) The taxable value of a single-dwelling interest on any day (“the relevant day”) is equal to its market value at the end of the latest day that—\n(a) falls on or before that day, and\n(b) is a valuation date in the case of that interest.\n(2) Each of the following is a valuation date in the case of any single-dwelling interest—\n(a) 1 April 2012;\n(b) each 1 April falling 5 years, or a multiple of 5 years, after 1 April 2012.\n(2A) But a day that is a valuation date only because of subsection (2)(b) (a “5-yearly valuation date”) is to be treated as if it were not a valuation date for the purpose of determining the taxable value of a single-dwelling interest on any day in the chargeable period beginning with that 5-yearly valuation date.\n(3) The following are also valuation dates in the case of any single-dwelling interest to which a company is entitled on the relevant day (otherwise than as a member of a partnership)—\n(a) the effective date of any substantial acquisition by the company of a chargeable interest in or over the dwelling concerned;\n(b) the effective date of any substantial disposal of part (but not the whole) of the single-dwelling interest.\n(4) The following are also valuation dates in the case of any single-dwelling interest to which a company is entitled on the relevant day as a member of a partnership—\n(a) the effective date of any substantial acquisition as a result of which a chargeable interest in or over the dwelling concerned became an asset of the partnership,\n(b) the effective date of any substantial disposal of part (but not the whole) of the single-dwelling interest.\n(5) The following are also valuation dates in the case of any single-dwelling interest that is on the relevant day held for the purposes of a collective investment scheme—\n(a) the effective date of any substantial acquisition, made for the purposes of the scheme, of a chargeable interest in or over the dwelling concerned;\n(b) the effective date of any substantial disposal of part (but not the whole) of the single-dwelling interest.\n(6) In this section references to a disposal of part of a single-dwelling interest include the grant of a chargeable interest out of the single-dwelling interest.\n(7) The grant of an option does not count as the grant of a chargeable interest for the purposes of subsection (6).",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "S. 102(2A) inserted (26.3.2015) by Finance Act 2015 (c. 11), s. 71"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2013/29/section/102",
    "retrieved_at": "2026-10-28T17:02:16.948797+00:00",
    "licence": "OGL-UK-3.0",
    "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."
  }
}