# Taxation of Chargeable Gains Act 1992, Paragraph 12


(1) This Part of this Schedule applies to any direct disposal of UK land if—
(a) neither Part 2 nor Part 3 of this Schedule applies to the disposal, and
(b) the interest in UK land being disposed of was not a post-April 2015 asset that was fully residential before 6 April 2019.
(2) For this purpose—
(a) the interest in UK land being disposed of is a “post-April 2015 asset” if it was acquired by the person after 5 April 2015, and
(b) the asset “was fully residential before 6 April 2019” if, in the period beginning with the day on which it was acquired and ending with 5 April 2019, every day on which the land to which the disposal relates consisted of a dwelling.
(3) If the disposal is of an interest in land subsisting under a contract for the acquisition of land that, at any time in that period, did not consist of a building to be constructed or adapted for use as a dwelling, the disposal is taken to be not fully residential before 6 April 2019.

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Source: https://www.legislation.gov.uk/ukpga/1992/12/schedule/4AA/paragraph/12 (the official version)
Page: https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/schedule-4AA/paragraph-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.