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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 5U.K.Power to change when relief is available

Power to change the cases in which relief is availableU.K.

12(1)The Treasury may by regulations—

(a)amend the meaning of “[F3qualifying land]”, [F4or]

[F5(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(iii)about returns where relief is withdrawn.]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 [F6special 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 [F7sub-paragraph (1)(b) of this paragraph or on] section 114(6)(c), may amend, repeal or otherwise modify other provisions of this Act.

[F8(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

F5Sch. 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)

Approval of regulationsU.K.

13(1)An instrument containing regulations under paragraph 12 must be laid before the House of Commons after being made.

(2)If the regulations are not approved by the House of Commons before the end of the period of 28 days beginning with the day on which they are made, they cease to have effect at the end of that period (if they have not already ceased to have effect under sub-paragraph (3)).

(3)If, on any day during that period of 28 days, the House of Commons, in proceedings on a motion that (or to the effect that) the regulations be approved, comes to a decision rejecting the regulations, they shall cease to have effect at the end of that day.

(4)In reckoning any such period of 28 days, no account is to be taken of any time during which—

(a)Parliament is prorogued or dissolved, or

(b)the House of Commons is adjourned for more than four days.

(5)Where regulations cease to have effect under sub-paragraph (3), their ceasing to have effect is without prejudice to anything done in reliance on them.]