SCHEDULEConsequential amendments
Further consequential amendments
9
In section 77(1)(b) (notifiable transactions) for “which tax is chargeable at a rate of 1% or higher” substitute “
any part of which tax is chargeable at a rate of more than 0%
”
.
10
In section 77A(2)(a) (notifiable transactions: exception of certain acquisitions of major interests in land: interpretation) for “1% or higher” substitute “
more than 0%
”
.
11
In section 109(2)(b) (general power to vary Part 4 of the 2003 Act: power to alter descriptions of transaction chargeable at any existing rate or amount) after “amount” insert “
, or in respect of which tax is calculated in accordance with any particular provision
”
.
12
In section 122 omit the entry for “rate of tax”.
13
In paragraph 3(1)(b) of Schedule 4A (certain high-value transactions not linked to other transactions for purposes of section 55(4)) for “55(4)” substitute “
55(1B), (1C) and (4)
”
.
14
In paragraph 4B(1) of Schedule 9 (shared ownership transactions) for “rate” substitute “
amount
”
.
15
In paragraph 12 of Schedule 9 (shared ownership trusts) for “rate” substitute “
amount
”
.
16
In paragraph 30(2) of Schedule 15 (partnerships) in paragraph (a) for “rate of tax chargeable under that section is 1% or higher” substitute “
amount of tax chargeable under that section is not zero
”
.
17
In paragraph 3(3) of Schedule 17A (leases that continue after a fixed term: additional tax to be calculated by reference to effective date)—
a
in the opening words, after “before” insert “
(calculated in either case according to the effective date of the transaction)
”
, and
b
omit paragraph (c), but not the “and” at the end.
18
In paragraph 4(3) of Schedule 17A (treatment of leases for indefinite term: additional tax to be calculated by reference to effective date)—
a
in the opening words, after “before” insert “
(calculated in either case according to the effective date of the transaction)
”
, and
b
omit paragraph (c), but not the “and” at the end.
19
In paragraph 7(1) of Schedule 19 (old linked transactions relevant to rate of tax) for “rate” substitute “
amount
”
.
20
In paragraph 9(4) of Schedule 19 (exercise of option or right of pre-emption acquired before implementation date) for “rate” substitute “
amount
”
.