Introduction Details of the Sections Section 142 – Property traders: supplementary
250.Subsections (1) and (2) provides if a non-qualifying individual is permitted to occupy the dwelling no further day in that chargeable period or the subsequent three chargeable periods will be a relievable day where the property trader (or a relevant partner) remains beneficially entitled to the single-dwelling interest.
251.Subsection (3) defines “relevant partner” as any other person who, at the time of non-qualifying occupation was a partner in a partnership that carried on the property trading business.
252.Subsections (4) and (5) provide that if a non-qualifying individual occupies the dwelling, earlier days in the relevant chargeable period, or preceding chargeable period are not relievable unless they were before the chargeable person (or a partner of the chargeable person) became entitled to the single dwelling interest.
253.Subsection (6) provides that subsection (5) does not apply where there is an intervening day which was relievable because a qualifying individual was permitted to occupy the single-dwelling interest.
254.Subsection (7) defines the terms “non-qualifying individual” and provides that occupation of part of a dwelling is regarded as occupation of it all.