Taxation of Chargeable Gains Act 1992 Schedule 4AA paragraph 6

Introduction

Paragraph 6 sets out the conditions under which Part 3 of Schedule 4AA applies to direct disposals of UK land that was held before April 2015 and was fully residential property before April 2019.

• This Part applies where a person held the UK land interest continuously from 6 April 2015 until disposal, and the property was fully residential before 6 April 2019.
• A disposal is "fully residential before 6 April 2019" only if the land consisted of a dwelling on every single day between 6 April 2015 and 5 April 2019.
• If the disposal relates to an interest under a contract for land acquisition, and at any point in that period the land did not consist of a building intended to be constructed or adapted as a dwelling, it is treated as not fully residential before 6 April 2019.
• This Part does not apply to disposals made by a person who was not within the charge to capital gains tax before 6 April 2019, as determined under paragraph 2 of the Schedule.