# Finance Act 2003, Paragraph 11


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

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Source: https://www.legislation.gov.uk/ukpga/2003/14/schedule/9/paragraph/11 (the official version)
Page: https://openlegislation.uk/finance-act-2003/schedule-9/paragraph-11
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.