# Finance Act 2015, Section 72: ATED: interests held by connected persons


(1) Section 110 of FA 2013 (interests held by connected persons) is amended as follows.
(2) In subsection (1), after “If on any day” insert “ (“the relevant day”) ”.
(3) In subsection (2)—
(a) omit “on the day in question”;
(b) after “P's single dwelling interest” insert “ on the relevant day ”;
(c) for “£500,000” substitute “ £250,000 ”.
(4) After subsection (2) insert—
(2A) Subsection (2B) applies in any case where—
(a) C would (without subsection (2B)) be treated, as a result of subsection (1) (read with section 109), as entitled to a single-dwelling interest with a taxable value (on the relevant day) of more than £2 million, but
(b) C would not be so treated if the value specified in subsection (2) were £500,000 (instead of £250,000).
(2B) Subsection (2) has effect as if the value specified in it were £500,000 (instead of £250,000).
(5) The amendments made by this section have effect in relation to chargeable periods beginning on or after 1 April 2015.

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Source: https://www.legislation.gov.uk/ukpga/2015/11/section/72 (the official version)
Page: https://openlegislation.uk/finance-act-2015/section-72
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.