Land Remediation Relief: Definitions: Major interest in Land
This paragraph applies for expenditure incurred on or after 1 April 2009.
There are variations in property law across the United Kingdom.
The definition of a “major interest in land” is intended to mean that the effect is the same irrespective of where in the United Kingdom the land is situated.
- A company that owns the land has a major interest in the land
- A company that is granted a lease of at least seven years over the land has a major interest in the land.
- A company that is assigned a lease with at least 7 years remaining has a major interest in the land.
Under the Interpretation Act 1978, “land” includes the buildings on the land.