Section 1D | Non-UK residents: assets deriving 75% of value from UK land etc ^F1

(1)For the purposes of section 1A(3)(c) the following questions are determined in accordance with the provision made by Schedule 1A—

(a)whether the asset being disposed of derives at least 75% of its value from UK land, and

(b)whether the person making the disposal has a substantial indirect interest in the UK land at the time of the disposal.

(2)The provision made by Schedule 1A is not to be taken as affecting the meaning of “substantial” in other contexts.