The Stamp Duty Land Tax (Consequential Amendment of Enactments) Regulations 2003

Building Societies Act 1986

14.  After section 109 of the Building Societies Act 1986(1) insert—

“Exemptions from stamp duty land tax

109A.— (1) A land transaction effected by or in consequence of—

(a) an amalgamation of two or more building societies under section 93(2); or

(b) a transfer of engagements between building societies under section 94(3),

is exempt from charge for the purposes of stamp duty land tax.

(2) Relief under this section must be claimed in a land transaction return or an amendment of such a return.

(3) In this section—

“land transaction” has the meaning given by section 43(1) of the Finance Act 2003;

“land transaction return” has the meaning given by section 76(1) of that Act.”.

(1)

1986 c. 53.

(2)

Section 93 has been amended by paragraph 41 of Schedule 7 to the Building Societies Act 1997 and paragraph 177 in Part II of Schedule 3 to S.I. 2001/2617.

(3)

Section 94 has been amended by paragraph 42 of Schedule 7 to the Building Societies Act 1997 and paragraph 178 in Part II of Schedule 3 to S.I. 2001/2617.