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Finance Act 2003

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Changes over time for: Paragraph 4

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Version Superseded: 12/02/2015

Alternative versions:

Status:

Point in time view as at 01/01/2013.

Changes to legislation:

Finance Act 2003, Paragraph 4 is up to date with all changes known to be in force on or before 24 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. Help about Changes to Legislation

[F14(1)If relief under this Schedule is claimed for a relevant transaction, the amount of tax chargeable in respect of the transaction is—U.K.

(a)a percentage of the consideration attributable to dwellings, plus

(b)a percentage of the remaining consideration (if any).

(2)“The consideration attributable to dwellings” is—

(a)for a single dwelling transaction, so much of the chargeable consideration for the transaction as is attributable to the dwelling,

(b)for a multiple dwelling transaction, so much of the chargeable consideration for the transaction as is attributable to the dwellings in total.

(3)“The remaining consideration” is the chargeable consideration for the transaction less the consideration attributable to dwellings.

(4)The percentages are determined in accordance with paragraph 5.

(5)If the whole or part of the chargeable consideration for a relevant transaction is rent, sub-paragraph (1) has effect subject to section 56 and Schedule 5.

(6)Attributable” means attributable on a just and reasonable basis.]

Textual Amendments

F1Sch. 6B inserted (with effect in accordance with Sch. 22 para. 9 of the amending Act) by Finance Act 2011 (c. 11), Sch. 22 para. 3

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