SCHEDULE 10ALTERNATIVE PROPERTY FINANCE RELIEFS

PART 1INTRODUCTORY

Overview

1

(1)

This Schedule makes provision for relief in the case of certain land transactions connected to alternative property finance arrangements.

(2)

The Schedule is arranged as follows—

(a)

Part 2 sets out the circumstances in which certain transactions are relieved from tax;

(b)

Part 3 sets out the circumstances where relief is not available;

(c)

Part 4 makes provision for an interest held by a financial institution in certain circumstances to be treated as an exempt interest;

(d)

Part 5 defines certain terms for the purposes of this Schedule.