[F1[F2No relief for first-time buyers for staircasing transactions etc]U.K.
Textual Amendments
F1Sch. 9 para. 16 and cross-heading inserted (with effect in accordance with s. 41(8) of the amending Act) by Finance Act 2018 (c. 3), s. 41(5)
F2Sch. 9 para. 16 cross-heading substituted (with effect in accordance with s. 42(7) of the amending Act) by Finance Act 2019 (c. 1), s. 42(5)
16(1)This paragraph applies where—U.K.
F3(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F4(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(c)paragraph 4A applies in relation to the acquisition of an interest (but the acquisition is not exempt from charge by virtue of sub-paragraph (2) of that paragraph),
F5(d). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . or
(e)an equity-acquisition payment is made under a shared ownership trust (but the equity-acquisition payment, and the consequential increase in the purchaser's beneficial interest, are not exempt from charge by virtue of paragraph 10).
(2)Schedule 6ZA (relief for first-time buyers) does not apply in relation to—
F6(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b)the acquisition of the interest,
F7(c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . or
(d)the equity-acquisition payment and the consequential increase in the purchaser's beneficial interest.]
Textual Amendments
F3Sch. 9 para. 16(1)(a) omitted (with effect in accordance with s. 42(7) of the amending Act) by virtue of Finance Act 2019 (c. 1), s. 42(6)(a)
F4Sch. 9 para. 16(1)(b) omitted (with effect in accordance with s. 42(7) of the amending Act) by virtue of Finance Act 2019 (c. 1), s. 42(6)(a)
F5Sch. 9 para. 16(1)(d) omitted (with effect in accordance with s. 42(7) of the amending Act) by virtue of Finance Act 2019 (c. 1), s. 42(6)(a)
F6Sch. 9 para. 16(2)(a) omitted (with effect in accordance with s. 42(7) of the amending Act) by virtue of Finance Act 2019 (c. 1), s. 42(6)(b)
F7Sch. 9 para. 16(2)(c) omitted (with effect in accordance with s. 42(7) of the amending Act) by virtue of Finance Act 2019 (c. 1), s. 42(6)(b)