SCHEDULES

SCHEDULE 10U.K.Stamp duty land tax: miscellaneous amendments

Part 1 U.K.Amendments coming into force in accordance with paragraph 16

Reconstruction and acquisition reliefsU.K.

8U.K.In paragraph 8 of Schedule 7 (acquisition relief)—

(a)in sub-paragraph (1)(b) for “the first and second conditions” substitute “ all the conditions ”, and

(b)after sub-paragraph (5) insert—

(5A)The third condition is that the undertaking or part acquired by the acquiring company has as its main activity the carrying on of a trade that does not consist wholly or mainly of dealing in chargeable interests.

In this sub-paragraph “trade” has the same meaning as in the Taxes Act 1988.