Paragraph 15A F1

(1)

This paragraph applies where—

(a)

a shared ownership lease is granted, and

(b)

no election is made for tax to be charged in accordance with paragraph 2 or 4.

(2)

For the purpose of determining whether the second condition in paragraph 1 of Schedule 6ZA is met in respect of the grant, the chargeable consideration for the grant is to be treated as being the amount stated in the lease in accordance with paragraph 2(2)(e) or paragraph 4(2)(e)(i) or (ii).

(3)

If relief is claimed in respect of the grant under paragraph 1 of Schedule 6ZA no tax is chargeable in respect of so much of the chargeable consideration for the grant as consists of rent.

(4)

In this paragraph “shared ownership lease” has the same meaning as in paragraph 4A.

Annotations

Textual amendments

F1: Sch. 9 paras. 15A, 15B and cross-headings inserted (with effect in accordance with s. 42(7) of the amending Act) by Finance Act 2019 (c. 1), s. 42(4)

Notes on Schedule 9

Modifications

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))