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Finance Act 2003
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Finance Act 2003, Paragraph 16B is up to date with all changes known to be in force on or before 01 February 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.
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[F116B(1)Where—U.K.
(a)there is a land transaction under which the chargeable interest in question—
(i)is acquired otherwise than by a bargain made at arm’s length, or
(ii)is treated by section 18 of the Taxation of Chargeable Gains Act 1992 (connected persons) as so acquired,
and
(b)the purchaser is or becomes liable to pay, or does in fact pay, any capital gains tax due in respect of the corresponding disposal of the chargeable interest,
his liability or payment does not count as chargeable consideration for the transaction.
(2)Sub-paragraph (1) does not apply if there is chargeable consideration for the transaction (disregarding the liability or payment referred to in sub-paragraph (1)(b)).]
Textual Amendments
F1Sch. 4 paras. 16A-16C inserted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Stamp Duty Land Tax (Amendment to the Finance Act 2003) Regulations 2006 (S.I. 2006/875), regs. 1(1), 3
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