sec.58ZCBuilding comprising build to rent development becomes suitable for occupation before 1 January in a financial year

sec.58ZC Building comprising build to rent development becomes suitable for occupation before 1 January in a financial year

This section applies if, under this part, the first or only building comprising a build to rent development first becomes suitable for occupation before 1 January in a financial year (the relevant financial year ). For the financial year immediately following the relevant financial year, this part applies in relation to the land on which the build to rent development is located as if— the references in sections 58C (1) (a) , 58E (1) and 58P (1) to the previous financial year were references to the start-up period; and this part did not include section 58P (3) and (4) . Also, a reference in this part to the BTR start date for an eligible BTR development is taken to be a reference to 1 January in the relevant financial year. This section applies only if the owner of the land makes an application under section 58S in relation to the owner’s liability for land tax for the financial year immediately following the relevant financial year. In this section— start-up period means the period— starting on 1 January in the relevant financial year; and ending on 30 June in the relevant financial year. s 58ZC ins 2023 No. 18 s 12 (sec.58ZC-ssec.1) This section applies if, under this part, the first or only building comprising a build to rent development first becomes suitable for occupation before 1 January in a financial year (the relevant financial year ). (sec.58ZC-ssec.2) For the financial year immediately following the relevant financial year, this part applies in relation to the land on which the build to rent development is located as if— the references in sections 58C (1) (a) , 58E (1) and 58P (1) to the previous financial year were references to the start-up period; and this part did not include section 58P (3) and (4) . (sec.58ZC-ssec.3) Also, a reference in this part to the BTR start date for an eligible BTR development is taken to be a reference to 1 January in the relevant financial year. (sec.58ZC-ssec.4) This section applies only if the owner of the land makes an application under section 58S in relation to the owner’s liability for land tax for the financial year immediately following the relevant financial year. (sec.58ZC-ssec.5) In this section— start-up period means the period— starting on 1 January in the relevant financial year; and ending on 30 June in the relevant financial year.

• (a) the references in sections 58C (1) (a) , 58E (1) and 58P (1) to the previous financial year were references to the start-up period; and
• (b) this part did not include section 58P (3) and (4) .
• (a) starting on 1 January in the relevant financial year; and
• (b) ending on 30 June in the relevant financial year.