SCHEDULES

SCHEDULE 9Stamp duty land tax: right to buy, shared ownership leases etc

Rent to mortgage or rent to loan: chargeable consideration

10F1Shared ownership trust: treatment of staircasing transaction

1

An equity-acquisition additional payment under a shared ownership trust, and the consequent increase in the purchaser's beneficial interest, shall be exempt from charge if—

a

an election was made under paragraph 9, and

b

any tax chargeable in respect of the declaration of trust has been paid.

2

An equity-acquisition additional payment under a shared ownership trust, and the consequent increase in the purchaser's beneficial interest, shall also be exempt from charge if following the increase the purchaser's beneficial interest does not exceed 80% of the total beneficial interest in the trust property.