Modifications etc. (not altering text)
C1Pt. 4 construed as one with S.I. 2006/575, reg. 43 (6.4.2006) by The Pension Protection Fund (Tax) Regulations 2006 (S.I. 2006/575), regs. 1, 43(4)
C2Pt. 4 modified (coming into force at 2 p.m. on 6.12.2006) by The Stamp Duty Land Tax (Variation of the Finance Act 2003) Regulations 2006 (S.I. 2006/3237), regs. 1, 2, Sch.
C3Pt. 4 modified (17.7.2013) by Finance Act 2013 (c. 29), s. 194(8)-(12)
C4Pt. 4 applied (17.7.2014) by Finance Act 2014 (c. 26), ss. 223(8)(9)(d)
C5Pt. 4 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))
C6Pt. 4 modified (temp.) (10.6.2021) by 2020 c. 15, s. 1A (as inserted by Finance Act 2021 (c. 26), s. 87(3))
Textual Amendments
F1S. 75ZA and cross-heading inserted (with effect in accordance with Sch. 16 para. 6 of the amending Act) by Finance Act 2021 (c. 26), Sch. 16 para. 2 (with Sch. 16 para. 6)
(1)In calculating the chargeable consideration on the notional transaction for the purposes of section 75A(5), consideration for a transaction shall be ignored if or in so far as the transaction is merely incidental to the transfer of the chargeable interest from V to P.
(2)A transaction is not incidental to the transfer of the chargeable interest from V to P—
(a)if or in so far as it forms part of a process, or series of transactions, by which the transfer is effected,
(b)if the transfer of the chargeable interest is conditional on the completion of the transaction, or
(c)if it is of a kind specified in section 75A(3).
(3)A transaction may, in particular, be incidental if or in so far as it is undertaken only for a purpose relating to—
(a)the construction of a building on property to which the chargeable interest relates,
(b)the sale or supply of anything other than land, or
(c)a loan to P secured by a mortgage, or any other provision of finance to enable P, or another person, to pay for part of a process, or series of transactions, by which the chargeable interest transfers from V to P.
(4)In subsection (3)—
(a)paragraph (a) is subject to subsection (2)(a) to (c),
(b)paragraph (b) is subject to subsection (2)(a) and (c), and
(c)paragraph (c) is subject to subsection (2)(a) to (c).
(5)The exclusion required by subsection (1) shall be effected by way of just and reasonable apportionment if necessary.
(6)In this section a reference to the transfer of a chargeable interest from V to P includes a reference to a disposal by V of an interest acquired by P.]
Textual Amendments
F2Ss. 75A-75C inserted (with effect in accordance with s. 71(2) of the amending Act) by Finance Act 2007 (c. 11), s. 71(1) (with s. 71(3))