Commentary

B6.751 ATED—property traders

Business tax
Business tax | Commentary

B6.751 ATED—property traders

Business tax | Commentary

B6.751 ATED—property traders

A day in a chargeable period is eligible for relief under these provisions if on that day1:

  1.  

    •     a person carrying on a property trading business is entitled to the interest

  2.  

    •     the interest is held as stock for the sole purpose of resale in the course of the business, and

  3.  

    •     a non-qualifying individual (defined as for the rules described in B6.746)2 is not permitted to occupy it3. Occupation of any part of a dwelling is regarded as occupation of the dwelling4

'Property trading business' means a business that5:

  1.  

    (a)     consists of or includes activities in the nature

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