SCHEDULE 21 Prevention of SDLT Avoidance
Finance Act 2011 (2011 c 11) | Legislation

SCHEDULE 21 Prevention of SDLT Avoidance

Section 82

Introduction

1

Part 4 of FA 2003 (stamp duty land tax) is amended as follows.

Alternative property finance

2

In section 45 (contract and conveyance: effect of transfer of rights), in subsection (3) for the words from “subsection (3)†to the end substitute “any of sections 71A to 73 (which relate to alternative property finance).â€

3

(1)     Omit sections 71A(8), 72(7), 72A(8) and 73(5)(a) (which contain definitions of “financial institution†for the purposes of provisions relating to alternative property finance).

(2)     After section 73B insert—

“Meaning of “financial institutionâ€

73BA

(1)     In sections 71A to 73B “financial institution†has the meaning given by section 564B of the Income Tax Act 2007.

(2)     For this purpose section 564B(1) applies as if paragraph (d) were omitted.â€

Exchanges

4

(1)     Paragraph 5 of Schedule 4 (chargeable consideration: exchanges) is amended as follows.

(2)

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