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SCHEDULES

[F1SCHEDULE 6CU.K.Stamp duty land tax: relief for [F2special tax sites]

Textual Amendments

F2Words in Sch. 6C heading substituted (11.7.2023) by Finance (No. 2) Act 2023 (c. 30), Sch. 23 para. 8(e)

PART 2U.K.The relief

ExemptionU.K.

5(1)This paragraph applies to a land transaction if at least 90% of the chargeable consideration for the transaction is attributable to [F3qualifying land].

(2)The transaction is exempt from charge.

Textual Amendments

Other reliefU.K.

6(1)This paragraph applies to a land transaction if the proportion of the chargeable consideration for the transaction that is attributable to [F3qualifying land] (“the relevant proportion”) is less than 90% but at least 10%.

(2)The tax chargeable in respect of the transaction is reduced by the relevant proportion.

Textual Amendments

Attributing chargeable consideration to landU.K.

7(1)For the purposes of this Schedule, the consideration attributable to [F3qualifying land] must be determined on a just and reasonable basis.

(2)Sub-paragraphs (3) and (4) apply if less than 100% of the chargeable consideration attributable to transaction land situated in a [F4special tax site] [F5(“the relevant consideration”)] is attributable to land that satisfies the condition in paragraph 2(b).

(3)If at least 90% of the freeport consideration is attributable to land that satisfies the condition in paragraph 2(b) then, for the purposes of this Schedule, all of [F6the relevant consideration] is to be treated as being attributable to [F3qualifying land].

(4)If less than 10% of [F7the relevant consideration] is attributable to land that satisfies the condition in paragraph 2(b) then, for the purposes of this Schedule, all of the freeport consideration is to be treated as not being attributable to [F3qualifying land].]

Textual Amendments