SCHEDULES
SCHEDULE 61Alternative finance investment bonds
Part 3Transactions relating to underlying assets consisting of land
Stamp duty land tax
Relief from stamp duty land tax: first transaction
6
(1)
This paragraph applies if—
(a)
the first transaction relates to an interest in land in F1England and Wales or Northern Ireland, and
(b)
each of conditions A to C is met before the end of the period of 30 days beginning with the effective date of that transaction.
(2)
Where this paragraph applies the first transaction is exempt from charge to stamp duty land tax.
(3)
Where the interest in the land is replaced as the bond asset by an interest in other land, this paragraph is subject to paragraph 18.
(4)
This paragraph is also subject to paragraph 20.