CG73619 - Dwellings subject to ATED: relevant high value disposal: condition C - ATED charge

Condition C for a disposal to be a 바카라 사이트˜relevant high value disposal바카라 사이트™ is that the person making the disposal or, in the circumstances described below, another person has been liable to ATED in respect of the 바카라 사이트˜single-dwelling interest바카라 사이트™ on at least one day in the relevant ownership period (see CG73618).

For this purpose a 바카라 사이트˜single-dwelling interest바카라 사이트™ must be subject to an ATED charge. If the interest is only potentially chargeable (because, say, it exceeds the threshold amount for ATED to apply) but ATED is never in fact charged (because, say, the property is held for the purpose of a qualifying property rental business at all material times), condition C is not met.

Person other than the disposer chargeable to ATED

As outlined at CG73601, liability to ATED can arise to partnerships which include a company as a member of the partnership. Where this happens the 바카라 사이트˜responsible partners바카라 사이트™ are the persons liable to pay the ATED charged. These persons may not include the company partner to whom the gain (or loss) accrues on disposal of the whole or part of its interest in the partnership asset. In these cases condition C is met for any day when the responsible partners are subject to ATED.

Example

Mr A, Mrs B and J Ltd are partners in a partnership which holds a residential property worth more than £2million. They are the relevant partners.

K Ltd joins the partnership and acquires a 25% share in the partnership interests shortly after the start of a chargeable period for ATED purposes: K Ltd is not a relevant partner for the ATED charged for that period.

If the partnership sells the property and realises a gain before the end of that period then section 2C(4)(b) ensures that Condition C is met in relation to K Ltd바카라 사이트™s disposal.

Similarly, where residential property is held for the purposes of a collective investment scheme and the scheme is transparent for capital gains purposes, the person liable to pay ATED is the 바카라 사이트˜manager바카라 사이트™ of the scheme, but the gain or loss on disposal of the scheme asset accrues to participants in the scheme. In these cases condition C is met in relation to a participant바카라 사이트™s disposal for any day when the 바카라 사이트˜manager바카라 사이트™ of the scheme is subject to ATED.