Section 119 — Finance Act 2003: Meaning of “ effective date ” of a transaction

Meaning of “ effective date ” of a transaction 119 1 Except as otherwise provided, the effective date of a land transaction for the purposes of this Part is a the date of completion, or b such alternative date as the Commissioners for Her Majesty's Revenue and Customs may prescribe by regulations.

2 Other provision as to the effective date of certain descriptions of land transaction is made by— section 44(4) (contract and conveyance: contract substantially performed without having been completed), ... section 44A(3) (contract providing for conveyance to third party), section 45A(8) (contract providing for conveyance to third party: effect of transfer of rights), section 46(3) (options and rights of pre-emption). paragraph 5 of Schedule 2A, paragraph 3(4) of Schedule 17A (leases that continue after a fixed term), paragraph 12A(2) of Schedule 17A (agreement for lease followed by substantial performance), paragraph 12B(3) of that Schedule (assignment of agreement for lease occurring after agreement substantially performed), and ...