Finance Act 2009

1 (1) In this Schedule— U.K.

• “alternative finance investment bond” means arrangements [F1 to which section 564G of ITA 2007 or section 151N of TCGA 1992 (investment bond arrangements) applies ];

• “bond assets”, “bond-holder”, “bond-issuer” and “capital” have the meaning given by that section;

• [F2 “effective date”, for a transaction relating to land in Scotland, is the date which would be the effective date (under section 119 of FA 2003) if Part 4 of FA 2003 applied to land in Scotland;]

• “HMRC” means Her Majesty's Revenue and Customs;

• “prescribed” means prescribed in regulations made by HMRC;

• F3 ...

[F4 (1A) In this Schedule “qualifying interest”—

(a) in relation to land in England and Wales or Northern Ireland, means a major interest in land (within the meaning given by section 117 of FA 2003) except that it does not include a lease for a term of years of 21 years or less;

(b) in relation to land in Scotland, means—

(i) the interest of an owner of land, or

(ii) the tenant’s right over or interest in a property subject to a lease,

except that it does not include a lease for a period of 21 years or less.]

[F5 (2) Section 564S of ITA 2007 (treatment of bond-holder and bond-issuer) applies for the purposes of any enactment about stamp duty land tax as it applies for the purposes of the Income Tax Acts.]

Textual Amendments

F1 Words in Sch. 61 para. 1(1) substituted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 229(2) (with Sch. 9 paras. 1-9, 22)

F2 Words in Sch. 61 para. 1(1) inserted (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(3)(a) (with s. 29(5)(6)); S.I. 2015/637, art. 2

F3 Words in Sch. 61 para. 1(1) omitted (with effect in accordance with s. 29(4) of the amending Act) by virtue of Scotland Act 2012 (c. 11), s. 44(2)(b)(3)(b), Sch. 3 para. 31(3)(b) (with s. 29(5)(6)); S.I. 2015/637, art. 2

F4 Words in Sch. 61 para. 1(1A) inserted (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(4) (with s. 29(5)(6)); S.I. 2015/637, art. 2

F5 Sch. 61 para. 1(2) substituted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 229(3) (with Sch. 9 paras. 1-9, 22)