36 Residential property development activities: “interest in land”
Finance Act 2022 (2022 c 3) | Legislation

36  Residential property development activities: “interest in land”

(1)     A company has an interest in land for the purposes of this Part if—

(a)     the company or a related company has—

(i)     an estate, interest, right or power in or over the land, or

(ii)     the benefit of an obligation, restriction or condition affecting the value of an estate, interest, right or power in or over the land,

other than an excluded interest, and

(b)     that estate, interest, right or power forms part of the company's, or the related company's, trading stock of a trade which includes the carrying on of activities for the purposes of, or in connection with, the development of residential property.

(2)     The following interests are “excluded interests”—

(a)     any interest or right held for securing the

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