Clause 107 - Interests held by connected persons

Part of Finance Bill – in a Public Bill Committee at 2:30 pm on 13 June 2013.

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Amendments made: 70, in clause 107, page 63, line 8, at end insert—

‘(1A) This subsection provides for an exception to subsection (1).

Where P is an individual, C is not treated on the day in question as entitled to P’s single-dwelling interest unless on that day C is entitled to a single-dwelling interest in the dwelling that is a freehold or leasehold interest with a taxable value of more than £500,000.’.

Amendment 71, in clause 107, page 63, line 36, at end insert—

‘(6) In the application of this section to Scotland—

(a) the reference to a freehold interest is to the interest of the owner;

(b) the reference to a leasehold interest is to a tenant’s right over or interest in property subject to a lease.’.—(Mr Gauke.)