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Section 65A Seeding reliefF1F6

(1)

Schedule 7A provides for relief from stamp duty land tax.

(2)

In that Schedule—

(a)

Part 1 makes provision for relief for property authorised investment funds (PAIF seeding relief), and

(b)

Part 2 makes provision for relief for co-ownership authorised contractual schemes F2and Reserved Investor Funds (Contractual Schemes) (co-ownership scheme seeding relief).

(3)

Any relief under that Schedule must be claimed in a land transaction return or an amendment of such a return, and must be accompanied by a notice to HMRC referring to the claim.

(4)

In the case of a claim for PAIF seeding relief, the notice must confirm that the purchaser is—

(a)

a property AIF as defined in paragraph 2(2) of Schedule 7A, or

(b)

a company treated as a property AIF by virtue of paragraph 2(5) of Schedule 7A (equivalent EEA funds).

(5)

In the case of a claim for F3co-ownership scheme seeding relief, the notice must confirm that the purchaser is—

(a)

a co-ownership authorised contractual scheme F4or a Reserved Investor Fund (Contractual Scheme) as defined in section 102A(8), or

(b)

an entity treated as a co-ownership authorised contractual scheme by virtue of section 102A(7) (equivalent EEA schemes).

(6)

The notice must be in such form, and contain such further information, as HMRC may require.

F5(7)

Co-ownership scheme seeding relief may not be claimed where the purchaser is a Reserved Investor Fund (Contractual Scheme) if the scheme—

(a)

has previously claimed such relief, and

(b)

following that claim ceased, at any time, to be a Reserved Investor Fund (Contractual Scheme).

Annotations

Textual amendments

F1

S. 65A inserted (with effect in accordance with Sch. 16 para. 15 of the amending Act) by Finance Act 2016 (c. 24), Sch. 16 para. 3

F2

Words in s. 65A(2)(b) substituted (19.3.2025) by The Co-ownership Contractual Schemes (Tax) Regulations 2025 (S.I. 2025/200), regs. 1(2), 58(2)(b) (with reg. 63)

F3

Words in s. 65A(5) substituted (19.3.2025) by The Co-ownership Contractual Schemes (Tax) Regulations 2025 (S.I. 2025/200), regs. 1(2), 58(2)(c)(i) (with reg. 63)

F4

Words in s. 65A(5)(a) inserted (19.3.2025) by The Co-ownership Contractual Schemes (Tax) Regulations 2025 (S.I. 2025/200), regs. 1(2), 58(2)(c)(ii) (with reg. 63)

F5

S. 65A(7) inserted (19.3.2025) by The Co-ownership Contractual Schemes (Tax) Regulations 2025 (S.I. 2025/200), regs. 1(2), 58(2)(d) (with reg. 63)

F6

S. 65A heading substituted (19.3.2025) by The Co-ownership Contractual Schemes (Tax) Regulations 2025 (S.I. 2025/200), regs. 1(2), 58(2)(a) (with reg. 63)

Notes on Part 4

Modifications

C1

Pt. 4 construed as one with S.I. 2006/575, reg. 43 (6.4.2006) by The Pension Protection Fund (Tax) Regulations 2006 (S.I. 2006/575), regs. 1, 43(4)

C2

Pt. 4 modified (coming into force at 2 p.m. on 6.12.2006) by The Stamp Duty Land Tax (Variation of the Finance Act 2003) Regulations 2006 (S.I. 2006/3237), regs. 1, 2, Sch.

C3

Pt. 4 modified (17.7.2013) by Finance Act 2013 (c. 29), s. 194(8)-(12)

C4

Pt. 4 applied (17.7.2014) by Finance Act 2014 (c. 26), ss. 223(8)(9)(d)

C5

Pt. 4 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))

C6

Pt. 4 modified (temp.) (10.6.2021) by 2020 c. 15, s. 1A (as inserted by Finance Act 2021 (c. 26), s. 87(3))

C7

Pt. 4 applied (19.3.2025) by The Co-ownership Contractual Schemes (Tax) Regulations 2025 (S.I. 2025/200), regs. 1(2), 29(2)(5) (with reg. 63)

C8

Pt. 4 modified (19.3.2025) by The Co-ownership Contractual Schemes (Tax) Regulations 2025 (S.I. 2025/200), regs. 1(2), 28, 30 (with reg. 63)