# Finance Act 2013, Section 94: Charge to tax

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

(1) A tax (called “annual tax on enveloped dwellings”) is to be charged in accordance with this Part.
(2) Tax is charged in respect of a chargeable interest if on one or more days in a chargeable period—
(a) the interest is a single-dwelling interest and has a taxable value of more than £500,000, and
(b) a company, partnership or collective investment scheme meets the ownership condition with respect to the interest.
(3) The tax is charged for the chargeable period concerned.
(4) A company meets the ownership condition with respect to a single-dwelling interest on any day on which the company is entitled to the interest (otherwise than as a member of a partnership or for the purposes of a collective investment scheme).
(5) A partnership meets the ownership condition with respect to a single-dwelling interest on any day on which a member of the partnership that is a company is entitled to the interest (as a member of the partnership).
(6) A collective investment scheme meets the ownership condition with respect to a single-dwelling interest on any day on which the interest is held for the purposes of the scheme.
(7) If a company is jointly entitled to a chargeable interest (as a member of a partnership or otherwise), then regardless of whether the company is entitled as a joint tenant or tenant in common (or, in Scotland, as a joint owner or owner in common) the ownership condition is regarded as met in relation to the whole chargeable interest.
(8) The chargeable periods are—
(a) the period beginning with 1 April 2013 and ending with 31 March 2014, and
(b) each subsequent period of 12 months beginning with 1 April.
(9) See also section 95.

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Source: https://www.legislation.gov.uk/ukpga/2013/29/section/94 (the official version)
Page: https://openlegislation.uk/finance-act-2013/section-94
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.