No versions valid at: 10/04/2003
Point in time view as at 10/04/2003. This version of this cross heading contains provisions that are not valid for this point in time.
Finance Act 2003, Cross Heading: Land all residential is up to date with all changes known to be in force on or before 07 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Yn ddilys o 10/07/2003
9(1)This paragraph applies where all the land situated in a disadvantaged area is residential property.U.K.
(2)If—
(a)the consideration attributable to land situated in a disadvantaged area does not include rent and the relevant consideration does not exceed £150,000, or
(b)the consideration so attributable consists only of rent and the relevant rental value does not exceed £150,000,
none of the consideration so attributable counts as chargeable consideration.
(3)If the consideration attributable to land situated in a disadvantaged area includes rent and the relevant rental value does not exceed £150,000, the rent so attributable does not count as chargeable consideration.
(4)If the consideration attributable to land in a disadvantaged area includes consideration other than rent (“non-rent consideration”), then—
(a)if—
(i)the annual rent so attributable does not exceed £600, and
(ii)the relevant consideration does not exceed £150,000,
the non-rent consideration so attributable does not count as chargeable consideration;
(b)if the annual rent so attributable exceeds £600, the 0% band in Table A in subsection (2) of section 55 does not apply in relation to the non-rent consideration so attributable and any case that would have fallen within that band is treated as falling within the 1% band.
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