# The Co-ownership Contractual Schemes (Tax) Regulations 2025, Regulation 57: Stamp duty land tax: contractual schemes


(1) FA 2003 is amended as follows.
(2) In section 102A (co-ownership authorised contractual schemes)—
(a) in the heading omit “authorised”;
(b) in subsection (2) omit “authorised”;
(c) after subsection (2) insert—
“(2A) In this Part, a “co-ownership contractual scheme” means—
(a) a co-ownership authorised contractual scheme, or
(b) a Reserved Investor Fund (Contractual Scheme).”;
(d) in subsection (3)—
(i) for “umbrella COACS” substitute “umbrella scheme”, and
(ii) omit “authorised”;
(e) in subsection (4) for “COACS” substitute “scheme”;
(f) in subsection (5)—
(i) for “COACS”, in both places it occurs, substitute “scheme”, and
(ii) omit “authorised”;
(g) in subsection (6) for “COACS” substitute “scheme”;
(h) in subsection (8), after the definition of “co-ownership scheme” insert—
““Reserved Investor Fund (Contractual Scheme)” has the meaning given by section 20 of the Finance (No.2) Act 2024.”;
(i) in subsection (9) after “contractual scheme” insert “or a Reserved Investor Fund (Contractual Scheme)”;
(j) in subsection (10) omit “authorised”;
(k) in subsection (11) omit “authorised”;
(l) in subsection (12), in paragraph (a) of the definition of “operator” omit “authorised”.
(3) In section 118(2) (meaning of “market value”) for “COACS” substitute “co-ownership scheme”.
(4) In section 122 (index of defined expressions)—
(a) in the table, in the first column for “COACS seeding relief” substitute “co-ownership scheme seeding relief”, and
(b) at the appropriate places insert—
“
co-ownership contractual scheme
section 102A”;
“Reserved Investor Fund (Contractual Scheme)
section 102A
”.
(5) In paragraph 2(6)(da) of Schedule 4A (stamp duty land tax: higher rate for certain transactions) for “COACS” substitute “co-ownership scheme”.
(6) Schedule 9A (increased rates for non-resident transactions) is amended as follows.
(7) In paragraph 7(4)(a) omit “authorised”.
(8) In the italic heading before paragraph 15 omit “authorised”.
(9) In paragraph 15, after sub-paragraph (2) insert—
“(3) A Reserved Investor Fund (Contractual Scheme) is not “non-resident” in relation to any chargeable transaction.”.
(10) In paragraph 11 of Schedule 17A (further provisions relating to leases)—
(a) in sub-paragraph (3)(ba) for “COACS” substitute “co-ownership scheme”;
(b) in sub-paragraph (4) for “COACS” substitute “co-ownership scheme”;
(c) in sub-paragraph (5)(bb)—
(i) for “COACS” substitute “co-ownership scheme”, and
(ii) omit “authorised”;
(d) in sub-paragraph (6) for “COACS” substitute “co-ownership scheme”;
(e) in sub-paragraph (7) for “COACS”, in both places it occurs, substitute “co-ownership scheme”.

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Source: https://www.legislation.gov.uk/uksi/2025/200/regulation/57 (the official version)
Page: https://openlegislation.uk/co-ownership-contractual-schemes-tax-regulations-2025/regulation-57
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.