Finance Act 2007

PART 6

Residential Property Tax

Amendment of section 110A (clearance on sale of certain residential property) of Finance Act 1983.

118.— Section 110A (inserted by the Finance Act 1993 ) of the Finance Act 1983 is amended—

(a) in subsection (9)—

(i) by substituting “on or after the date of the passing of the Finance Act 1993 and before 1 February 2007” for “on or after the date of the passing of the Finance Act, 1993 ”, and

(ii) by substituting “until the earlier of the expiration of 12 years from that date and 1 February 2007” for “for 12 years from that date”,

and

(b) by inserting the following after subsection (12):

“(13) Subsection (2) of this section shall not apply to the sale of an estate or interest in residential property completed on or after 1 February 2007.”.