Paragraph 22 F1

(1)

In this Schedule—

(a)

any reference to an interest in UK land is to be read in accordance with section 1C (and any reference to land is to be read in accordance with that section), and

(b)

any reference to an asset (other than an interest in UK land) deriving at least 75% of its value from UK land where a person has a substantial indirect interest in that land is to be read in accordance with Schedule 1A.

(2)

If an interest in UK land disposed of by a person results from interests in UK land acquired by the person at different times, the person is regarded for the purposes of this Schedule as having acquired the interest disposed of at the time of the first acquisition.

(3)

For the purposes of this Schedule, whether a building is a dwelling is determined in accordance with F2paragraphs 16E to 16H of Schedule 2 to the Finance Act 2019.

Annotations

Textual amendments

F1: Sch. 4AA inserted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 17
F2: Words in Sch. 4AA para. 22(3) substituted (with effect in accordance with s. 7(3) of the amending Act) by Finance Act 2025 (c. 8), s. 7(3), Sch. 1 para. 6(3) (with Sch. 2 Pts. 1, 2)