(1)A land transaction which—
(a)is effected by or in pursuance of a scheme under section 15, or
(b)is entered into in pursuance of Schedule 4 to the Transport Act 1968 as it applies in relation to any such scheme by virtue of section 75(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.]
Textual Amendments