Paragraph 10 F1

(1)

Sub-paragraph (3) applies in relation to a land transaction if—

(a)

the main subject-matter of the transaction consists of a major interest in one or more dwellings,

(b)

the purchaser (or one of them) is acting as trustee of a settlement, and

(c)

under the terms of the settlement a beneficiary will be entitled to—

(i)

occupy the dwelling or dwellings for life, or

(ii)

income earned in respect of the dwelling or dwellings.

(2)

Sub-paragraph (3) also applies in relation to a land transaction if—

(a)

the main subject-matter of the transaction consists of a term of years absolute in a dwelling, and

(b)

the purchaser (or one of them) is acting as a trustee of a bare trust.

(3)

Where this sub-paragraph applies in relation to a land transaction the beneficiary of the settlement or bare trust (rather than the trustee) is to be treated for the purposes of this Schedule as the purchaser (or as one of them).

(4)

Paragraphs 3(3) and 4 of Schedule 16 (trustees to be treated as the purchaser) have effect subject to sub-paragraph (3).

Annotations

Textual amendments

F1: Sch. 4ZA inserted (with effect in accordance with s. 128(5)(6) of the amending Act) by Finance Act 2016 (c. 24), s. 128(3) (with s. 128(9)(10))

Notes on Schedule 4ZA

Modifications

C1: Sch. 4ZA modified (temp.) (22.7.2020) by Stamp Duty Land Tax (Temporary Relief) Act 2020 (c. 15), s. 1 (as amended 10.6.2021) by 2021 c. 26, s. 87(2))
C2: Sch. 4ZA modified (temp.) (8.2.2023) by Stamp Duty Land Tax (Temporary Relief) Act 2023 (c. 2), s. 1 (as amended (with effect in accordance with s. 50(3) of the amending Act) by 2025 c. 8, s. 50(2)(3) (with ss. 50(4)-(6), 52)