Paragraph 11 F1

Where no election has been made under paragraph 9 in respect of a shared ownership trust—

(a)

the initial capital shall be treated for the purposes of stamp duty land tax as chargeable consideration other than rent, and

(b)

any rent-equivalent F2... payment by the purchaser shall be treated for the purposes of stamp duty land tax as a payment of rent.

Annotations

F1: Sch. 9 paras. 7-11 and cross-headings inserted (with effect in accordance with s. 77(2) of the amending Act) by Finance Act 2007 (c. 11), s. 77(1)
F2: Word in Sch. 9 para. 11(b) omitted (with effect in accordance with s. 95(13) of the amending Act) by virtue of Finance Act 2008 (c. 9), s. 95(9)

C1: Sch. 9 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))