OpenLegislation

Paragraph 7A F1F2

(1)

A chargeable transaction which would (but for this paragraph) fall within paragraph 3 or paragraph 6 does not fall within that paragraph if—

(a)

the purchaser had a major interest (“the prior interest”) in the relevant purchased dwelling immediately before the effective date of the transaction, and

(b)

the relevant purchased dwelling had been the purchaser's only or main residence throughout the period of three years ending with the effective date of the transaction.

(2)

Sub-paragraph (1) does not apply if—

(a)

the prior interest is a term of years absolute or a leasehold estate, and

(b)

immediately before the effective date of the transaction, the remaining term of the prior interest is less than 21 years.

(3)

Sub-paragraph (1) does not apply if immediately before the effective date of the transaction—

(a)

the purchaser is beneficially entitled as a joint tenant to the prior interest, and

(b)

there are more than three other joint tenants.

(4)

Sub-paragraph (1) does not apply if immediately before the effective date of the transaction the purchaser is beneficially entitled as a tenant in common or coparcener to less than a quarter of the prior interest.

(5)

In this paragraph “relevant purchased dwelling” means—

(a)

the purchased dwelling mentioned in paragraph 3(1)(b), or (as the case may be)

(b)

the purchased dwelling which meets the conditions mentioned in paragraph 6(1)(c).

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))

F2

Sch. 4ZA para. 7A and cross-heading inserted (with effect in accordance with Sch. 11 para. 16(1)-(3) of the amending Act) by Finance Act 2018 (c. 3), Sch. 11 para. 3

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)