- Latest available (Revised)
- Point in Time (01/01/2023)
- Original (As enacted)
Point in time view as at 01/01/2023.
Finance Act 2009, Stamp duty land tax is up to date with all changes known to be in force on or before 29 August 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Changes and effects yet to be applied by the editorial team are only applicable when viewing the latest version or prospective version of legislation. They are therefore not accessible when viewing legislation as at a specific point in time. To view the ‘Changes to Legislation’ information for this provision return to the latest version view using the options provided in the ‘What Version’ box above.
6(1)This paragraph applies if—U.K.
(a)the first transaction relates to an interest in land in [F1England F2... 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.
Textual Amendments
F1Words in Sch. 61 para. 6(1)(a) substituted (with effect in accordance with s. 29(4) of the amending Act) by Scotland Act 2012 (c. 11), s. 44(2)(b)(3)(b), Sch. 3 para. 31(8) (with s. 29(5)(6)); S.I. 2015/637, art. 2
F2Words in Sch. 61 para. 6(1)(a) omitted (1.4.2018 with effect in accordance with s. 16(4)(5) of the amending Act) by virtue of Wales Act 2014 (c. 29), s. 29(2)(b)(3), Sch. 2 para. 15; S.I. 2018/214, art. 2(a)
7(1)This paragraph applies if [F3paragraph 6 applies but] —U.K.
(a)the interest in the land is transferred by Q to P without conditions E and F having been met,
(b)the period mentioned in paragraph 5(11)(b) expires without each of those conditions having been met, or
(c)at any time it becomes apparent for any other reason that any of conditions E to G cannot or will not be met.
(2)This paragraph also applies if [F4paragraph 6 applies but] condition D is not met.
(3)The relief provided by paragraph 6(2) is withdrawn and stamp duty land tax is chargeable on the first transaction in accordance with this paragraph.
(4)The amount chargeable is the tax that would have been chargeable in respect of the first transaction (but for relief under paragraph 6(2)) if the chargeable consideration for that transaction had been the market value of the interest at the time of that transaction.
(5)Interest is due and payable on the amount of that tax as from the end of the period of [F514 days] after the effective date of that transaction until the tax is paid.
(6)Q must deliver a further land transaction return before the end of the period of 30 days after the date on which this paragraph first applies.
(7)The return must include a self-assessment of the amount of tax chargeable.
(8)Tax payable must be paid not later than the filing date for the further return.
(9)Schedule 10 to FA 2003 (returns, assessments and other matters) applies to a return under this paragraph as it applies to a return under section 76 of that Act (general requirement to deliver land transaction return), with the following modifications—
(a)references to the transaction to which the return relates are to the event by virtue of which this paragraph applies, and
(b)references to the effective date of the transaction are to the date on which that event occurs.
Textual Amendments
F3Words in Sch. 61 para. 7(1) inserted (with effect in accordance with s. 29(4) of the amending Act) by Scotland Act 2012 (c. 11), s. 44(2)(b)(3)(b), Sch. 3 para. 31(9)(a) (with s. 29(5)(6)); S.I. 2015/637, art. 2
F4Words in Sch. 61 para. 7(2) inserted (with effect in accordance with s. 29(4) of the amending Act) by Scotland Act 2012 (c. 11), s. 44(2)(b)(3)(b), Sch. 3 para. 31(9)(b) (with s. 29(5)(6)); S.I. 2015/637, art. 2
F5Words in Sch. 61 para. 7(5) substituted (with effect in accordance with s. 46(10) of the amending Act) by Finance Act 2019 (c. 1), s. 46(9)(a)
8(1)The second transaction is exempt from charge to stamp duty land tax if—U.K.
(a)each of conditions A to G is met, and
(b)the provisions of Part 4 of FA 2003 relating to the first transaction are complied with.
(2)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.
(3)This paragraph is also subject to paragraph 20.
9U.K.If, after the effective date of the second transaction, Q provides HMRC with the prescribed evidence that each of conditions A to C and E to G has been met, the land ceases to be subject to the charge F6... registered in pursuance of condition D.
Textual Amendments
F6Words in Sch. 61 para. 9 omitted (with effect in accordance with s. 29(4) of the amending Act) by virtue of Scotland Act 2012 (c. 11), s. 44(2)(b)(3)(b), Sch. 3 para. 31(10) (with s. 29(5)(6)); S.I. 2015/637, art. 2
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Point in Time: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: