http://www.legislation.gov.uk/ukpga/2005/7/part/3/2008-07-10Finance Act 2005An Act to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with finance.texttext/xmlenStatute Law Database2024-11-12Expert Participation2008-07-10 Part 3 Stamp taxes<Emphasis>Stamp duty land tax</Emphasis>Alternative property finance94Schedule 8 (which makes amendments of Part 4 of FA 2003 relating to alternative property finance) has effect.<Emphasis>Stamp duty land tax and stamp duty</Emphasis>Raising of thresholds95. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Removal of disadvantaged areas relief for non-residential property96Schedule 9 (which provides for the removal, in relation to non-residential property, of relief from stamp duty land tax and stamp duty for land in disadvantaged areas) has effect.<Emphasis>Stamp duty and stamp duty reserve tax</Emphasis>Demutualisation of insurance companies971Section 90 of FA 1986 (other exceptions to the principal charge to stamp duty reserve tax under section 87 of that Act) is amended as follows.2In subsection (1A) (section 87 not to apply to agreement to transfer unit under unit trust scheme if instrument giving effect to agreement would be exempt from stamp duty by virtue of provision in paragraph (a) or (b)) after paragraph (b) insert, or csection 96 of the Finance Act 1997 (demutualisation of insurance companies)..3Schedule 19 to FA 1999 (stamp duty and stamp duty reserve tax: unit trusts) is amended as follows.4In paragraph 6 (exclusion, in certain cases of change of ownership, of charge to stamp duty reserve tax on surrender of unit to managers) in sub-paragraph (5) (provisions under which certain instruments would be exempt from stamp duty) after paragraph (b) insert; and csection 96 of the Finance Act 1997 (demutualisation of insurance companies)..5The amendment in subsection (2) applies where the relevant day for the purposes of section 87 of FA 1986 falls on or after the day on which this Act is passed.6The amendment in subsection (4) applies in relation to surrenders (within the meaning of Part 2 of Schedule 19 to FA 1999) occurring on or after the day on which this Act is passed.S. 95 repealed (with effect in accordance with Sch. 26 Pt. 7(1) Note of the amending Act) by Finance Act 2006 (c. 25), Sch. 26 Pt. 7(1)
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<Title>Stamp taxes</Title>
<Pblock DocumentURI="http://www.legislation.gov.uk/ukpga/2005/7/part/3/crossheading/stamp-duty-land-tax/2008-07-10" IdURI="http://www.legislation.gov.uk/id/ukpga/2005/7/part/3/crossheading/stamp-duty-land-tax" NumberOfProvisions="1" RestrictStartDate="2005-04-07" id="part-3-crossheading-stamp-duty-land-tax">
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<Text>Schedule 8 (which makes amendments of Part 4 of FA 2003 relating to alternative property finance) has effect.</Text>
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<Emphasis>Stamp duty land tax and stamp duty</Emphasis>
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<Title>Raising of thresholds</Title>
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95
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<Text>. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .</Text>
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<Title>Removal of disadvantaged areas relief for non-residential property</Title>
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<Text>Schedule 9 (which provides for the removal, in relation to non-residential property, of relief from stamp duty land tax and stamp duty for land in disadvantaged areas) has effect.</Text>
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<Title>
<Emphasis>Stamp duty and stamp duty reserve tax</Emphasis>
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<Title>Demutualisation of insurance companies</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2005/7/section/97/2008-07-10" IdURI="http://www.legislation.gov.uk/id/ukpga/2005/7/section/97" id="section-97">
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<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2005/7/section/97/1/2008-07-10" IdURI="http://www.legislation.gov.uk/id/ukpga/2005/7/section/97/1" id="section-97-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>Section 90 of FA 1986 (other exceptions to the principal charge to stamp duty reserve tax under section 87 of that Act) is amended as follows.</Text>
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<Text>In subsection (1A) (section 87 not to apply to agreement to transfer unit under unit trust scheme if instrument giving effect to agreement would be exempt from stamp duty by virtue of provision in paragraph (a) or (b)) after paragraph (b) insert</Text>
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<Text>, or </Text>
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<Pnumber>c</Pnumber>
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<Text>section 96 of the Finance Act 1997 (demutualisation of insurance companies).</Text>
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<AppendText>.</AppendText>
</P2para>
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<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2005/7/section/97/3/2008-07-10" IdURI="http://www.legislation.gov.uk/id/ukpga/2005/7/section/97/3" id="section-97-3">
<Pnumber>3</Pnumber>
<P2para>
<Text>Schedule 19 to FA 1999 (stamp duty and stamp duty reserve tax: unit trusts) is amended as follows.</Text>
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<Pnumber>4</Pnumber>
<P2para>
<Text>In paragraph 6 (exclusion, in certain cases of change of ownership, of charge to stamp duty reserve tax on surrender of unit to managers) in sub-paragraph (5) (provisions under which certain instruments would be exempt from stamp duty) after paragraph (b) insert</Text>
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<AppendText>.</AppendText>
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<Text>The amendment in subsection (2) applies where the relevant day for the purposes of section 87 of FA 1986 falls on or after the day on which this Act is passed.</Text>
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<Text>The amendment in subsection (4) applies in relation to surrenders (within the meaning of Part 2 of Schedule 19 to FA 1999) occurring on or after the day on which this Act is passed.</Text>
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<CitationSubRef id="cxa2r95j2-00004" SectionRef="section-95" URI="http://www.legislation.gov.uk/id/ukpga/2005/7/section/95">S. 95</CitationSubRef>
repealed (with effect in accordance with Sch. 26 Pt. 7(1) Note of the amending Act) by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2006/25" id="cxa2r95j2-00005" Class="UnitedKingdomPublicGeneralAct" Year="2006" Number="25" Title="Finance Act 2006">Finance Act 2006 (c. 25)</Citation>
,
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