Section 77 Notifiable transactions

United Kingdom

(1)

F1A land transaction is notifiable if it is—

(a)

an acquisition of a major interest in land that does not fall within one or more of the exceptions in section 77A,

(b)

an acquisition of a chargeable interest other than a major interest in land where there is chargeable consideration in respect of F2any part of which tax is chargeable at a rate of more than 0% or would be so chargeable but for a relief,

(c)

a land transaction that a person is treated as entering into by virtue of section 44A(3), F3...

(d)

a notional land transaction under section 75A F4or

(e)

a notional or additional land transaction under paragraph 5 of Schedule 2A.

(2)

This section has effect subject to—

(a)

sections 71A(7) F5..., and

(b)

paragraph 30 of Schedule 15.

(3)

In this section “relief” does not include an exemption from charge under Schedule 3.

Annotations

Textual amendments

F1: Ss. 77, 77A substituted for s. 77 (with effect in accordance with s. 94(5) of the amending Act) by Finance Act 2008 (c. 9), s. 94(2)
F2: Words in s. 77(1)(b) substituted (with effect in accordance with s. 2(2) of the amending Act) by Stamp Duty Land Tax Act 2015 (c. 1), Sch. para. 9 (with s. 2(3)-(6))
F3: Word in s. 77(1) omitted (with effect in accordance with Sch. 39 para. 11 of the amending Act) by virtue of Finance Act 2013 (c. 29), Sch. 39 para. 5(a)
F4: S. 77(1)(e) and word inserted (with effect in accordance with Sch. 39 para. 11 of the amending Act) by Finance Act 2013 (c. 29), Sch. 39 para. 5(b)
F5: Words in s. 77(2)(a) omitted (with effect in accordance with s. 29(4) of the amending Act) by virtue of Scotland Act 2012 (c. 11), s. 44(2)(b)(3)(b), Sch. 3 para. 17 (with s. 29(5)(6)); S.I. 2015/637, art. 2