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Finance Act 2003
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Changes over time for: Paragraph 12
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Changes to legislation:
Finance Act 2003, Paragraph 12 is up to date with all changes known to be in force on or before 23 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.
Changes to Legislation
Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
Changes and effects yet to be applied to Schedule 6C Paragraph 12:
- Sch. 17A para. 10(1)(f)(fa) substituted for Sch. 17A para. 10(1)(f) by 2024 c. 22 Sch. 9 para. 12(b)
- specified provision(s) savings for amendments by 2018 anaw 1, s. 6, Sch. 6 by S.I. 2019/110 reg. 5
Changes and effects yet to be applied to the whole Act associated Parts and Chapters:
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- Sch. 17A para. 10(1)(f)(fa) substituted for Sch. 17A para. 10(1)(f) by 2024 c. 22 Sch. 9 para. 12(b)
Power to change the cases in which relief is availableU.K.
[F112(1)The Treasury may by regulations—
(a)amend the meaning of “[F2qualifying land]”, [F3or]
[F4(b)make other provision about the availability of relief under this Schedule, including provision—
(i)adding, removing or altering, or otherwise about, conditions that must be met in order for relief to be available,
(ii)about the withdrawal of relief, or
(iii)about returns where relief is withdrawn.]
(2)Regulations under this paragraph may not remove the requirement for land to be situated in a [F5special tax site].
(3)Regulations under this paragraph may, among other things—
(a)make provision by reference to the land, the land transaction, the purchaser or connected persons;
(b)impose conditions relating to accounts or other records;
(c)impose other conditions requiring a person to take steps specified in the regulations.
(4)Regulations under this paragraph—
(a)may amend, repeal or otherwise modify provisions of this Schedule, and
(b)where made in reliance on [F6sub-paragraph (1)(b) of this paragraph or on] section 114(6)(c), may amend, repeal or otherwise modify other provisions of this Act.
[F7(5)The power to make regulations under this paragraph may be exercised only in relation to transactions with an effective date that is on or after the date on which the regulations come into force.]]
Textual Amendments
F1Sch. 6C inserted (10.6.2021) by Finance Act 2021 (c. 26), Sch. 23 para. 8
F2Words in Sch. 6C substituted (11.7.2023) by Finance (No. 2) Act 2023 (c. 30), Sch. 23 para. 8(b)
F3Word in Sch. 6C para. 12(1)(a) inserted (24.2.2022) by Finance Act 2022 (c. 3), Sch. 16 para. 6(2)(a)
F4Sch. 6C para. 12(1)(b) substituted for Sch. 6C para. 12(1)(b)(c) (24.2.2022) by Finance Act 2022 (c. 3), Sch. 16 para. 6(2)(b)
F5Words in Sch. 6C substituted (11.7.2023) by Finance (No. 2) Act 2023 (c. 30), Sch. 23 para. 8(c)
F6Words in Sch. 6C para. 12(4)(b) inserted (24.2.2022) by Finance Act 2022 (c. 3), Sch. 16 para. 6(3)
F7Sch. 6C para. 12(5) inserted (24.2.2022) by Finance Act 2022 (c. 3), Sch. 16 para. 6(4)
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