SCHEDULES

SCHEDULE 61Alternative finance investment bonds

Part 3Transactions relating to underlying assets consisting of land

Stamp duty land tax

Relief from stamp duty land tax: first transaction

6

1

This paragraph applies if—

a

the first transaction relates to an interest in land in F2England F1... or Northern Ireland, and

b

each of conditions A to C is met before the end of the period of 30 days beginning with the effective date of that transaction.

2

Where this paragraph applies the first transaction is exempt from charge to stamp duty land tax.

3

Where the interest in the land is replaced as the bond asset by an interest in other land, this paragraph is subject to paragraph 18.

4

This paragraph is also subject to paragraph 20.