SCHEDULES

SCHEDULE 61 U.K.Alternative finance investment bonds

Part 3 U.K.Transactions relating to underlying assets consisting of land

Stamp duty land tax U.K.

Relief from stamp duty land tax: first transaction U.K.

6 (1) This paragraph applies if— U.K.

(a) the first transaction relates to an interest in land in [F1 England F2 ... 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.

Textual Amendments

F1 Words in Sch. 61 para. 6(1)(a) substituted (with effect in accordance with s. 29(4) of the amending Act) by Scotland Act 2012 (c. 11), s. 44(2)(b)(3)(b), Sch. 3 para. 31(8) (with s. 29(5)(6)); S.I. 2015/637, art. 2

F2 Words in Sch. 61 para. 6(1)(a) omitted (1.4.2018 with effect in accordance with s. 16(4)(5) of the amending Act) by virtue of Wales Act 2014 (c. 29), s. 29(2)(b)(3), Sch. 2 para. 15; S.I. 2018/214, art. 2(a)