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Finance Act 2011
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Finance Act 2011, Paragraph 4 is up to date with all changes known to be in force on or before 23 February 2025. 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.
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Changes and effects yet to be applied to Schedule 21 Paragraph 4:
- Sch. 23 para. 45(1)(ia) inserted by 2017 c. 10 Sch. 11 para. 6(3)
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Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- Sch. 23 para. 45(1)(ia) inserted by 2017 c. 10 Sch. 11 para. 6(3)
4(1)Paragraph 5 of Schedule 4 (chargeable consideration: exchanges) is amended as follows.U.K.
(2)In sub-paragraph (3)—
(a)for paragraph (a)(i) and (ii) substitute—
“(i)the amount determined under sub-paragraph (3A) in respect of the acquisition, or
(ii)if greater, the amount which would be the chargeable consideration for the acquisition ignoring paragraph 5;”, and
(b)for paragraph (b)(i) and (ii) substitute—
“(i)the amount determined under sub-paragraph (3A) in respect of that acquisition, or
(ii)if greater, the amount which would be the chargeable consideration for that acquisition ignoring paragraph 5;”.
(3)After that sub-paragraph insert—
“(3A)The amount mentioned in sub-paragraph (3)(a)(i) and (b)(i) is—
(a)the market value of the subject-matter of the acquisition, and
(b)if the acquisition is the grant of a lease at a rent, that rent.”
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