372AV Continuity

Summary

This section deals with continuity issues arising from the codification of the legislation dealing with residential reliefs (both rented residential and owner-occupier relief) under a number of schemes.

Details

Definition of old enactments

(1) The term “old enactments” means the legislation, repealed by section 24(3) Finance Act 2002, which deal with residential reliefs under a number of current schemes i.e. sections 372F, 372G, 372H, 372I and 372J (Urban Renewal Scheme and Living over the Shop Scheme), sections 372P, 372Q, 372R, 372RA and 372S (Rural Renewal Scheme), sections 372X, 372Y and 372Z (Park and Ride Scheme), sections 372AE, 372AF, 372AG, 372AH and 372AI (Town Renewal Scheme), Parts 11A (Student Accommodation Scheme) and Part 11B (Countrywide Refurbishment Scheme for rented residential accommodation).

Continuity of the law, references in documents or legislation etc.

(2) The continuity of the operation of the law relating to income tax, corporation tax and capital gains tax is not affected by the substitution of this Chapter for the old enactments.

(3) Any reference in any enactment or document to this Chapter or to things done or to be done under or for the purposes of this Chapter, in relation to matters to which the old enactments applied, is to be construed as including a reference to, or to things done or to be done under, the old enactments.

(4) Any reference in any enactment or document to the old enactments, or to things done or to be done under or for the purposes of the old enactments, in relation to matters to which this Chapter applies, is to be construed as including a reference to things done or deemed to be done or to be done under or for the purposes of this Chapter.

(5) Anything done or having effect as if done under the old enactments before the date of passing of the Finance Act 2002 is to be treated on and from that date as if it were a thing done under this Chapter.

Deductions given under old enactments

(6) This Chapter applies as if a deduction given to a person under the old enactments were a deduction given to such person under this Chapter in respect of, as appropriate, eligible expenditure incurred in the qualifying period on a qualifying premises or a special qualifying premises, or qualifying expenditure incurred in the qualifying period on a qualifying premises.

Construction of references to old enactments in certain orders

(7) & (8) Any reference in an order made:

• under section 372B(1) or 372BA(1) to section 372F, 372G, 372H or 372I, or
• under section 372AB(1) to section 372AE, 372AF, 372AG or 372AH,

is, from the date of passing of the Finance Act 2002, to be construed respectively as if it were a reference:

• section 372AP, in so far as it relates to expenditure on construction,
• section 372AP, in so far as it relates to conversion expenditure,
• section 372AP, in so far as it relates to refurbishment expenditure, and
• section 372AR.

Authorised officers etc.

(9) All officers who were authorised or nominated for the purposes of the old enactments immediately before the date of passing of the Finance Act 2002 are deemed to be authorised or nominated for the purposes of Chapter 11.

(10) All instruments, documents, authorisations and letters or notices of appointment made or issued under the old enactments and in force immediately before the date of passing of the Finance Act 2002 are to continue in force as if made or issued under Chapter 11.

Relevant Date: Finance Act 2021