Schedule 10, Part 1, paragraph 26(7)

In this paragraph— “relevant interest in the building or land” means an interest in, right over or license to occupy the building or land (or any part of it); “the relevant time”, in relation to any option to tax, means the time from which the option would (but for this paragraph) have been treated as revoked as a result of paragraph 22(2) or (3) or 24; “opter” means the person who exercised the option to tax in question.

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Source: legislation.gov.uk · retrieved 2026-07-28