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Version status: Repealed | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2002 - onwards
  Version 2 of 2    

362. Rented residential accommodation: deduction for certain expenditure on conversion.

Repealed from 1 January 2002

(1) In this section -

"conversion expenditure" means, subject to subsection (2), expenditure incurred on -

(a) the conversion into a house of a building -

(i) the site of which is on a designated island, and

(ii) which has not been previously in use as a dwelling,

and

(b) the conversion into 2 or more houses of a building -

(i) the site of which is on a designated island, and

(ii) which before the conversion had not been in use as a dwelling or had been in use as a single dwelling,

and references in this section and in section 365 to "conversion", "conversion into a house" and "expenditure incurred on conversion" shall be construed accordingly;

"qualifying lease", in relation to a house, means, subject to section 365(1), a lease of the house the duration of which is not less than 12 months and the consideration for the grant of which consists -

(a) solely of periodic payments all of which are or are to be treated as rent for the purposes of Chapter 8 of Part 4, or

(b) of payments

Comparing proposed amendment...