Modifications etc. (not altering text)
C1Sch. 9 modified (temp.) (22.7.2020) by Stamp Duty Land Tax (Temporary Relief) Act 2020 (c. 15), s. 1 (as amended (10.6.2021) by 2021 c. 26, s. 87(2))
Textual Amendments
F1Sch. 9 paras. 7-11 and cross-headings inserted (with effect in accordance with s. 77(2) of the amending Act) by Finance Act 2007 (c. 11), s. 77(1)
9(1)This paragraph applies where—U.K.
(a)a shared ownership trust is declared, and
(b)the purchaser elects for tax to be charged in accordance with this paragraph.
(2)An election must be included in—
(a)the land transaction return for the declaration of the shared ownership trust, or
(b)an amendment of that return.
(3)An election may not be revoked.
(4)Where this paragraph applies—
(a)the chargeable consideration for the declaration of the shared ownership trust shall be taken to be the amount stated in accordance with paragraph 7(4)(f), and
(b)no account shall be taken for the purposes of stamp duty land tax of rent-equivalent payments.
(5)The transfer to the purchaser of an interest in the trust property upon the termination of the trust is exempt from charge if—
(a)an election was made under this paragraph, and
(b)any tax chargeable in respect of the declaration of the shared ownership trust has been paid.]