Background Note
7.The Housing and Regeneration Act 2008 introduces a new regime of registered providers of social housing, to replace RSLs in England. These can be either non-profit (like RSLs) or profit-making bodies. Consequential provisions in the Housing and Regeneration Act 2008 amend stamp duty land tax legislation in Part 4 of FA 2003, to add references to non-profit registered providers to existing references to RSLs.
8.Profit-making registered providers will be subject to the same regulatory regime, will address the same housing priorities and will be able to apply for public funding on the same basis as non-profit registered providers.
9.This section allows profit-making registered providers to claim the stamp duty land tax relief for acquisitions by RSLs. It also allows clients of these bodies who acquire a shared ownership lease, or participate in a shared ownership trust, to benefit from the favourable stamp duty land tax treatment afforded to these schemes. As these providers may also undertake commercial housing provision, the favourable treatment is only available where the acquisition or, respectively, the shared ownership scheme, is assisted by public subsidy.
