{
  "url": "https://openlegislation.uk/finance-act-2016/schedule-15/paragraph-7",
  "json_url": "https://openlegislation.uk/finance-act-2016/schedule-15/paragraph-7.json",
  "legislation": "ukpga/2016/24",
  "legislation_title": "Finance Act 2016",
  "legislation_url": "https://openlegislation.uk/finance-act-2016",
  "path": "schedule/15/paragraph/7",
  "kind": "paragraph",
  "number": "7",
  "heading": null,
  "text": "(1) Section 8H (meaning of “qualifying residential interest”) is amended as follows.\n(2) In the heading, at the end insert “, “ qualifying former residential interest ” and “residential property interest” ”.\n(3) In subsection (1), for “and 8F” substitute “ to 8FE and section 8M ”.\n(4) In subsection (2), for “In this section” substitute “ A ”.\n(5) After subsection (4) insert—\n“(4A) Subsection (4B) or (4C) applies where—\n(a) a person disposes of a residential property interest in a dwelling-house on or after 8 July 2015 (and before the person dies), and\n(b) the person's personal representatives nominate—\n(i) where there is only one such dwelling-house, that dwelling-house, or\n(ii) where there are two or more such dwelling-houses, one (and only one) of those dwelling-houses.\n(4B) Where—\n(a) the person—\n(i) disposes of a residential property interest in the nominated dwelling-house at a post-occupation time, or\n(ii) disposes of two or more residential property interests in the nominated dwelling-house at the same post-occupation time or at post-occupation times on the same day, and\n(b) the person does not otherwise dispose of residential property interests in the nominated dwelling-house at post-occupation times,\nthe interest disposed of is, or the interests disposed of are, a qualifying former residential interest in relation to the person.\n(4C) Where—\n(a) the person disposes of residential property interests in the nominated dwelling-house at post-occupation times on two or more days, and\n(b) the person's personal representatives nominate one (and only one) of those days,\nthe interest or interests disposed of at post-occupation times on the nominated day is or are a qualifying former residential interest in relation to the person.\n(4D) For the purposes of subsections (4A) to (4C)—\n(a) a person is to be treated as not disposing of a residential property interest in a dwelling-house where the person disposes of an interest in the dwelling-house by way of gift and the interest is, in relation to the gift and the donor, property subject to a reservation within the meaning of section 102 of the Finance Act 1986 (gifts with reservation), and\n(b) a person is to be treated as disposing of a residential property interest in a dwelling-house if the person is treated as making a potentially exempt transfer of the interest as a result of the operation of section 102(4) of that Act (property ceasing to be subject to a reservation).\n(4E) Where—\n(a) a transfer of value by a person is a conditionally exempt transfer of a residential property interest, and\n(b) at the time of the person's death, no chargeable event has occurred with respect to that interest,\nthat interest may not be, or be included in, a qualifying former residential interest in relation to the person.\n(4F) In subsections (4B) and (4C) “post-occupation time” means a time—\n(a) on or after 8 July 2015,\n(b) after the nominated dwelling-house first became the person's residence, and\n(c) before the person dies.\n(4G) For the purposes of subsections (4A) to (4C), if the disposal is under a contract which is completed by a conveyance, the disposal occurs at the time when the interest is conveyed.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2016/24/schedule/15/paragraph/7",
    "retrieved_at": "2026-10-29T09:06:05.350093+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "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."
}