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Amendment of section 7B (transitional measures: waiver of exemption) of Principal Act.
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70.— Section 7B of the Principal Act is amended by inserting the following after subsection (5)—
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“(6) Where a landlord has a letting to which subsection (3) or (4) applies and that landlord becomes a person in a group within the meaning of section 8(8) on or after 1 July 2008 and the person to whom that letting is made is a person in that group, then the person referred to in section 8(8)(a)(i)(I) in respect of that group shall be liable to pay the amount as specified in subsection (3)(a) as if it were tax due in accordance with section 19—
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(a) in the case of a landlord who became a person in that group before the date of passing of the Finance (No. 2) Act 2008, in the taxable period in which that Act is passed, or
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(b) in the case of a landlord who became a person in that group after the date of passing of the Finance (No. 2) Act 2008, in the taxable period during which that landlord became a person in that group.”.
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