{
  "url": "https://openlegislation.uk/finance-act-2011/schedule-21/paragraph-4",
  "json_url": "https://openlegislation.uk/finance-act-2011/schedule-21/paragraph-4.json",
  "legislation": "ukpga/2011/11",
  "legislation_title": "Finance Act 2011",
  "legislation_url": "https://openlegislation.uk/finance-act-2011",
  "path": "schedule/21/paragraph/4",
  "kind": "paragraph",
  "number": "4",
  "heading": null,
  "text": "(1) Paragraph 5 of Schedule 4 (chargeable consideration: exchanges) is amended as follows.\n(2) In sub-paragraph (3)—\n(a) for paragraph (a)(i) and (ii) substitute—\n“(i) the amount determined under sub-paragraph (3A) in respect of the acquisition, or\n(ii) if greater, the amount which would be the chargeable consideration for the acquisition ignoring paragraph 5;”, and\n(b) for paragraph (b)(i) and (ii) substitute—\n“(i) the amount determined under sub-paragraph (3A) in respect of that acquisition, or\n(ii) if greater, the amount which would be the chargeable consideration for that acquisition ignoring paragraph 5;”.\n(3) After that sub-paragraph insert—\n“(3A) The amount mentioned in sub-paragraph (3)(a)(i) and (b)(i) is—\n(a) the market value of the subject-matter of the acquisition, and\n(b) if the acquisition is the grant of a lease at a rent, that rent.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2011/11/schedule/21/paragraph/4",
    "retrieved_at": "2026-10-29T09:09:31.813616+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}