SCHEDULES
F1SCHEDULE 9AIncreased rates for non-resident transactions
PART 5Special rules for particular purchasers and transactions
14Purchase by settlement if beneficiary entitled to occupy, or to income from, dwelling
1
Sub-paragraph (2) applies to a chargeable transaction if—
a
the purchaser is, or (if there is more than one) the purchasers include, a person (P) who is acting as a trustee of a settlement, and
b
under the terms of the settlement a beneficiary is entitled—
i
to occupy the dwelling or dwellings for life, or
ii
to income earned in respect of the dwelling or dwellings.
2
In determining for the purposes of this Part of this Act whether the chargeable transaction is a “non-resident transaction”, paragraph 2(1)(a) (condition that purchaser be non-resident) has effect as if a reference to the purchaser or purchasers—
a
included the beneficiary or beneficiaries of the settlement, and
b
did not include P.
3
In this paragraph “settlement” does not include a settlement under a unit trust scheme.
Sch. 9A inserted (with effect in accordance with Sch. 16 para. 6 of the amending Act) by Finance Act 2021 (c. 26), Sch. 16 para. 5