SCHEDULES
SCHEDULE 4Stamp duty land tax: chargeable consideration
F1Arrangements involving public or educational bodies
17
1
This paragraph applies in any case where arrangements are entered into under which—
F3a
there is a transfer, or the grant or assignment of a lease, of land by a qualifying body (“A”) to a non-qualifying body (“B”) (“the main transfer”),
F6b
in consideration (whether in whole or in part) of the main transfer there is a grant by B to A of a lease or under-lease of the whole, or substantially the whole, of that land (“the leaseback”),
c
B undertakes to carry out works or provide services to A, and
d
some or all of the consideration given by A to B for the carrying out of those works or the provision of those services is consideration in money,
F2whether or not there is also a transfer, or the grant or assignment of a lease, of any other land by A to B (a “transfer of surplus land”).
2
The following are qualifying bodies—
a
public bodies within section 66,
b
institutions within the further education sector or the higher education sector within the meaning of 91 of the Further and Higher Education Act 1992,
c
further education corporations within the meaning of section 17 of that Act,
d
higher education corporations within the meaning section 90 of that Act,
e
persons who undertake to establish and maintain, and carry on, or provide for the carrying on, of an Academy within the meaning of section 482 of the Education Act 1996, and
f
in Scotland, institutions funded by the Scottish Further Education Funding Council or the Scottish Higher Education Funding Council.
F43
The following shall not count as chargeable consideration for the main transfer or any transfer of surplus land—
a
the lease-back;
b
the carrying out of building works by B for A; or
c
the provision of services by B to A.
4
The chargeable consideration for the lease back does not include—
a
the main transfer;
b
any transfer of surplus land; or
c
the consideration in money paid by A to B for the building works or other services referred to in sub-paragraph (3).
F74A
Sub-paragraphs (3) and (4) shall be disregarded for the purposes of determining whether the land transaction in question is notifiable.
5
This paragraph applies to Scotland as if—
a
references to A transferring land to B were references to A transferring the interest of an owner of land to B, and
F5b
references in sub-paragraph (1) to assignment were references to assignation.
Until the appointed day for the purposes of the Abolition of Feudal Tenure etc. (Scotland) Act 2000 (asp 5), the reference in paragraph (a) to the interest of the owner shall be read, in relation to feudal property, as a reference to the estate or interest of the proprietor of the dominium utile.
6
In this paragraph “under-lease” includes a sub-lease.
Sch. 4 para. 17 added (19.12.2003) by The Stamp Duty Land Tax (Amendment of Schedule 4 to the Finance Act 2003) Regulations 2003 (S.I. 2003/3293), regs. 1, 2(5)