123 Contract and conveyance: the vendor
Finance Act 2013 (2013 c 29) | Legislation

123  Contract and conveyance: the vendor

(1)     This section applies where a person (“V”) enters into a contract under which—

(a)     V is to dispose of a relevant chargeable interest, and

(b)     the disposal is to be completed by a conveyance.

(2)     V is not regarded as disposing of a chargeable interest by reason of entering into the contract.

(3)     If the contract is substantially performed without having been completed, this Part has effect as if the substantial performance of the contract were the completion of the disposal provided for by the contract.

(4)

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