Paragraph 3

After section 65 insert—

“PAIF seeding relief and COACS seeding relief

65A

(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 (COACS 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 COACS seeding relief, the notice must confirm that the purchaser is—

(a)

a co-ownership authorised 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.”