Taxes Consolidation Act 1997 section 380I

Provisions supplementary to section 380H

Section 380I sets out the supplementary conditions, restrictions and procedural rules that apply to the refurbishment relief in section 380H for rented residential accommodation.

• A lease is disqualified if it allows the tenant or anyone else to acquire the property for less than its open market value.
• The lessor must comply with the Housing Regulations covering standards, rent books and registration of rented houses.
• Only expenditure on refurbishment work actually carried out during the qualifying period counts towards the relief.
• State or public authority grants are excluded, and section 555 applies CGT clawback rules to the relief on a later disposal.