55 Amount of tax chargeable: general
Finance Act 2003 (2003 c 14) | Legislation

Amount of tax chargeable

55  Amount of tax chargeable: general

(1)     The amount of tax chargeable in respect of a chargeable transaction [to which this section applies] is [determined in accordance with subsections (1B)] [and (1C)].

[(1A)     This section applies to any chargeable transaction other than a transaction to which paragraph 3 of Schedule 4A or step 4 of section 74(1A) (higher rate for certain transactions) applies.]

[(1B)     If . . . the transaction is not one of a number of linked transactions, the amount of tax chargeable is determined as follows—

Step 1

Apply the rates specified in the second column of [the appropriate table] below to the parts of the relevant consideration specified in the first column of [the appropriate table]. [The “appropriate table” is—

(a)     Table A, if the relevant land consists

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