SCHEDULE 14RELIEF FOR CERTAIN ACQUISITIONS OF DWELLINGS

PART 1INTRODUCTORY

Overview

1

(1)

This Schedule makes provision about reliefs available for certain acquisitions of dwellings.

(2)

This Schedule is arranged as follows—

(a)

Part 2 provides relief for certain acquisitions by housebuilders, property traders and employers, and is arranged as follows—

(i)

paragraph 2 provides for relief in the case of an acquisition of a dwelling by a housebuilder from an individual acquiring a new dwelling,

(ii)

paragraph 3 provides for relief in the case of an acquisition of a dwelling by a property trader from an individual acquiring a new dwelling,

(iii)

paragraph 4 provides for relief in the case of an acquisition of a dwelling by a property trader from an individual where a chain of transactions breaks down,

(iv)

paragraph 5 provides for relief in the case of an acquisition of a dwelling by a property trader from personal representatives,

(v)

paragraph 6 provides for relief in the case of an acquisition of a dwelling by a property trader in the case of relocation of employment,

(vi)

paragraph 7 provides for relief in the case of an acquisition of a dwelling by an employer in the case of relocation of employment,

(vii)

paragraph 8 makes provision about withdrawal of the reliefs available to property traders, and

(viii)

paragraph 9 makes provision about the interpretation of words and phrases which apply to Part 2 of this Schedule;

(b)

Part 3 provides relief for transactions entered into by a person or persons exercising collective rights.