42 Relief for first-time buyers in cases of shared ownership
Finance Act 2019 (2019 c 1) | Legislation

Part 2 Other Taxes

Stamp duty land tax

42  Relief for first-time buyers in cases of shared ownership

(1)     Schedule 9 to FA 2003 (stamp duty land tax: shared ownership leases etc) is amended as follows.

(2)     In paragraph 4 (shared ownership lease: election where staircasing allowed), after sub-paragraph (4) insert—

“(4A)     See paragraph 15 for further provision in connection with relief for first-time buyers.”

(3)     After paragraph 14 insert—

“Relief for first-time buyers: shared ownership lease where election made
15

³—

(a)     paragraph 4 applies, and

(b)     relief is claimed under paragraph 1 of Schedule 6ZA in respect of the grant of the lease concerned,

no tax is chargeable in respect of so much of the

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Novation—why and how to novate a contract

Novation—why and how to novate a contractThere may be times when, rather than assigning the benefit of an agreement to a third party, the original parties wish instead to end their obligations to each other under that agreement and, in effect, recreate it, with the third party stepping into the

LEXISNEXIS

Mortgagees and tenants

Mortgagee’s consent to grant of leaseIf a property is subject to a mortgage that prohibits leasing without the mortgagee’s consent, then written evidence of consent must be obtained prior to completion of the lease. On the grant of an underlease, mortgagee’s consent in respect of any mortgage over

LEXISNEXIS

Possession of a bladed article

Possession of a bladed articleThe offence of possession of a bladed articleThe offence of having a bladed article in a public place can be tried in either the magistrates' court or the Crown Court. The magistrates' court will decline jurisdiction in those cases where it appears that its powers of

LEXISNEXIS

Arbitration agreements—definition, purpose and interpretation

Arbitration agreements—definition, purpose and interpretationThis Practice Note considers the nature and scope of arbitration agreements with a particular focus on arbitration agreements pursuant to the law of England and Wales, although it also discusses the concept from an international