Remedy
Start free

Section 144A: Regulated home reversion plans

Finance Act 2013 · 2013 c. 29View on legislation.gov.uk

Part 3: Annual tax on enveloped dwellings

A day in a chargeable period is relievable in relation to a single dwelling interest held by a person ("P") who is an authorised plan provider if—

P has, as plan provider, entered into a regulated home reversion plan relating to the single dwelling interest, and
the occupation condition is met on that day.

If no qualifying termination event has occurred, the "occupation condition" is that a person who was originally entitled to occupy the dwelling (or any part of it) under the regulated home reversion plan is still entitled to do so.

If a qualifying termination event has occurred, the "occupation condition" is that—

the single dwelling interest is being held with the intention that it will be sold without delay (except so far as delay is justified by commercial considerations or cannot be avoided), and
no non-qualifying individual is permitted to occupy the dwelling (or any part of it).

In this section—

  • "authorised plan provider" means a person authorised under the Financial Services and Markets Act 2000 to carry on in the United Kingdom the regulated activity specified in article 63B(1) of the Regulated Activities Order (entering into regulated home reversion plan as plan provider);

  • "qualifying termination event" is to be interpreted in accordance with article 63B of the Regulated Activities Order;

  • "the Regulated Activities Order" means the Financial Services and Markets (Regulated Activities) Order 2001 (S.I. 2001/544);

  • "regulated home reversion plan" means an arrangement which is a regulated home reversion plan for the purposes of Chapter 15A of Part 2 of the Regulated Activities Order (but see also subsection (6)).

In this section references to entering into a regulated home reversion plan "as plan provider" are to be interpreted as if the references were in the Regulated Activities Order (but see also subsection (6)).

For the purposes of this section—

an arrangement which P entered into before 6 April 2007 is treated for the purposes of this section as a regulated home reversion plan entered into by P as plan provider if that arrangement would have been so treated for the purposes of article 63B(1) of the Regulated Activities Order had P entered into that arrangement on the day mentioned in subsection (1);
an arrangement in relation to which P acquired rights or obligations before 6 April 2007 is treated for the purposes of this section as a regulated home reversion plan entered into by P as plan provider if that arrangement would have been so treated for the purposes of article 63B(1) of the Regulated Activities Order had P acquired those rights or obligations on the day mentioned in subsection (1).

Section 136 (meaning of "non-qualifying individual") applies in relation to this section as in relation to sections 133 and 135.

About this text

This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.