7(1)This Part of this Schedule applies to a land transaction ifU.K.
[F1(a)]the subject matter of the transaction is a chargeable interest in relation to land that is partly in a disadvantaged area and partly outside such an area[F2, and
(b)the land situated in a disadvantaged area is wholly or partly residential property].
(2)References in this Part to the consideration attributable to land situated in a disadvantaged area and to land not so situated (or to the rent or annual rent so attributable) are to the consideration (or rent or annual rent) so attributable on a just and reasonable apportionment.
Textual Amendments
F1Word in Sch. 6 para. 7(1) inserted (with application in accordance with Sch. 9 para. 4(1) of the amending Act) by Finance Act 2005 (c. 7), Sch. 9 para. 1(5) (with Sch. 9 para. 4)
F2Sch. 6 para. 7(1)(b) and word inserted (with application in accordance with Sch. 9 para. 4(1) of the amending Act) by Finance Act 2005 (c. 7), Sch. 9 para. 1(5) (with Sch. 9 para. 4)
F38U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F3Sch. 6 para. 8 repealed (with application in accordance with Sch. 9 para. 4(1) of the amending Act) by Finance Act 2005 (c. 7), Sch. 9 para. 1(6), Sch. 11 Pt. 3(2) (with Sch. 9 para. 4)
9(1)This paragraph applies where all the land situated in a disadvantaged area is residential property.U.K.
(2)If—
(a)the consideration attributable to land situated in a disadvantaged area does not include rent and the relevant consideration does not exceed £150,000, or
(b)the consideration so attributable consists only of rent and the relevant rental value does not exceed £150,000,
none of the consideration so attributable counts as chargeable consideration.
(3)If the consideration attributable to land situated in a disadvantaged area includes rent and the relevant rental value does not exceed £150,000, the rent so attributable does not count as chargeable consideration.
(4)If the consideration attributable to land in a disadvantaged area includes consideration other than rent (“non-rent consideration”), then—
(a)if—
F4(i). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(ii)the relevant consideration does not exceed £150,000,
the non-rent consideration so attributable does not count as chargeable consideration;
F5(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F4Sch. 6 para. 9(4)(a)(i) omitted (with effect in accordance with s. 95(13) of the amending Act) by virtue of Finance Act 2008 (c. 9), s. 95(4)(c)(5)(a)
F5Sch. 6 para. 9(4)(b) omitted (with effect in accordance with s. 95(13) of the amending Act) by virtue of Finance Act 2008 (c. 9), s. 95(4)(c)(5)(b)
10(1)[F6This paragraph applies, where the land situated in a disadvantaged area is partly non-residential property and partly residential property, in relation to the consideration attributable to land that is residential property.] U.K.
References in this paragraph to the consideration attributable to F7... land that is residential property (or to the rent or annual rent so attributable) are to the consideration (or rent or annual rent) attributable to land in a disadvantaged area that is, on a just and reasonable apportionment, so attributable.
F8(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F8(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4)If—
(a)the consideration so attributable does not include rent and the relevant consideration does not exceed £150,000, or
(b)the consideration so attributable consists only of rent and the relevant rental value does not exceed £150,000,
none of the consideration so attributable counts as chargeable consideration.
(5)If the consideration so attributable includes rent and the relevant rental value does not exceed £150,000, the rent so attributable does not count as chargeable consideration.
(6)If the consideration so attributable includes consideration other than rent, then—
(a)if—
F9(i). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(ii)the relevant consideration does not exceed £150,000,
the consideration other than rent does not count as chargeable consideration;
F10(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F6Words in Sch. 6 para. 10(1) substituted (with application in accordance with Sch. 9 para. 4(1) of the amending Act) by Finance Act 2005 (c. 7), Sch. 9 para. 1(7)(a) (with Sch. 9 para. 4)
F7Words in Sch. 6 para. 10(1) repealed (with application in accordance with Sch. 9 para. 4(1) of the amending Act) by Finance Act 2005 (c. 7), Sch. 9 para. 1(7)(b), Sch. 11 Pt. 3(2) (with Sch. 9 para. 4)
F8Sch. 6 para. 10(2)(3) repealed (with application in accordance with Sch. 9 para. 4(1) of the amending Act) by Finance Act 2005 (c. 7), Sch. 9 para. 1(7)(c), Sch. 11 Pt. 3(2) (with Sch. 9 para. 4)
F9Sch. 6 para. 10(6)(a)(i) omitted (with effect in accordance with s. 95(13) of the amending Act) by virtue of Finance Act 2008 (c. 9), s. 95(4)(d)(5)(a)
F10Sch. 6 para. 10(6)(b) omitted (with effect in accordance with s. 95(13) of the amending Act) by virtue of Finance Act 2008 (c. 9), s. 95(4)(d)(5)(b)