Finance Act 2015
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Change 1
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.
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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