[F1[F25K(1)This paragraph applies where relief under paragraph 5F (farmhouses) has been allowed in respect of a higher threshold interest forming the whole or part of the subject-matter of a chargeable transaction.U.K.
(2)The relief is withdrawn if at any time in the period of three years beginning with the effective date of the chargeable transaction (“the control period”) the requirements in sub-paragraph (3) are not met (but see sub-paragraphs (4) and (5)).
(3)The requirements are that—
(a)the land mentioned in paragraph 5F(2) is occupied for the purposes of a qualifying trade of farming, and
(b)the dwelling is occupied for the purposes of that trade by a qualifying farm worker.
(4)The requirements in sub-paragraph (3) apply only to times in the control period when the purchaser holds—
(a)the higher threshold interest, or
(b)a chargeable interest that is derived from the higher threshold interest.
(5)The requirements in sub-paragraph (3) do not apply in relation to times when, because of a change of circumstances that is unforeseen and beyond the purchaser's control, it is not reasonable to expect those requirements to be met.
(6)Sub-paragraph (7) applies if at some time in the control period a requirement in sub-paragraph (3)—
(a)has not begun to be met, or
(b)has ceased to be met.
(7)The requirement is treated as being met if reasonable steps are being taken to ensure that the requirement begins to be met, or is again met.]]
Textual Amendments
F1Sch. 4A inserted (with effect in accordance with Sch. 35 para. 10 of the amending Act) by Finance Act 2012 (c. 14), Sch. 35 para. 4
F2Sch. 4A paras. 5A-5K and cross-headings inserted (with effect in accordance with Sch. 40 para. 8 of the amending Act) by Finance Act 2013 (c. 29), Sch. 40 para. 2(4)