Finance (No. 2) Act 2023

332 Sunset date for reliefs U.K.

(1) In section 61A of FA 2003 (relief from stamp duty land tax in case of transactions relating to land in designated sites), in subsection (3), for “30 September 2026” substitute “the applicable sunset date in relation to the special tax site concerned (as to which see section 332(4) and (5) of the Finance (No.2) Act 2023)”.

(2) In section 45O of CAA 2001 (enhanced capital allowances in case of expenditure on plant or machinery for use in designated sites), in subsection (5), for “30 September 2026” substitute “the applicable sunset date in relation to the special tax site concerned (as to which see section 332(4) and (5) of F(No.2)A 2023)”.

(3) In Chapter 2A of Part 2A of CAA 2001 (enhanced structures and building allowances in case of buildings or structures in designated sites)—

(a) in section 270BNA—

(i) in subsection (3)(b), for “30 September 2026” substitute “the applicable sunset date in relation to the special tax site concerned (as to which see section 332(4) and (5) of F(No.2)A 2023)”, and

(ii) in subsection (4)(b), for “30 September 2026” substitute “the applicable sunset date in relation to the special tax site concerned”, and

(b) in section 270BNB(3), for “30 September 2026” substitute “the applicable sunset date in relation to the special tax site concerned”.

(4) For the purposes of section 61A of FA 2003 and sections 45O, 270BNA and 270BNB of CAA 2001 (“the sunset provisions”), the applicable sunset date in relation to a special tax site is—

(a) 30 September 2026, or

(b) such later date as may be specified in relation to the site by regulations made by the Treasury.

(5) The regulations—

(a) may specify different dates for different descriptions of special tax sites, and

(b) may amend the sunset provisions.

(6) Schedule 23 makes amendments in consequence of the provision made by this section.