SDLTM20310 - Freeports and Investment Zones relief 바카라 사이트� treatment of residential property
Land or buildings intended to be used for residential purposes will not qualify for relief unless it does so under the 100% relief rule see 바카라 사이트撀�SDLTM20280.
Where land and buildings that are intended to be used for residential purposes qualify for relief under this rule, only the land and buildings that met the 바카라 사이트渜ualifying land바카라 사이트� condition is subject to the use in qualifying manner test after purchase.
Looking back at the example in SDLTM20280, where the purchaser acquired 25 acres of land for 拢2,500,000.
20 of the acres was situated inside the designated special tax site and was intended for use in a qualifying manner 바카라 사이트� meaning that these 20 acres counted as qualifying land. The other 5 acres was situated elsewhere outside the special tax site. The 20 acres was valued at 拢2,375,000.
Relief was available for the whole 拢2,500,000 paid because 90% or more of the consideration is attributable to qualifying land.
The 5 acres that was not intended to be used in a qualifying manner could have been used for a residential development and the relief claimed would not be withdrawn unless any part of the 20 acres was used for the residential development.