Paragraph 21 I1

(1)

The chargeable consideration for the land transfer is (subject to paragraph 28) taken to be equal to—

MV \times (100 - SLP) %

where—

MV is the market value of the interest transferred, and

SLP is the sum of the lower proportions determined in accordance with paragraph 22.

(2)

This paragraph does not apply if the whole or part of the chargeable consideration for the transaction is rent (see paragraph 29 (application of Parts 3 to 5 to leases)).

Annotations

Commencement

I1: Sch. 17 para. 21 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2