Paragraph 14 Building Societies Act 1986

After section 109 of the Building Societies Act 1986^f1 insert—

“Exemptions from stamp duty land tax

109A.

(1)

A land transaction effected by or in consequence of—

(a)

an amalgamation of two or more building societies under section 93^f2; or

(b)

a transfer of engagements between building societies under section 94^f3,

is exempt from charge for the purposes of stamp duty land tax.

(2)

Relief under this section must be claimed in a land transaction return or an amendment of such a return.

(3)

In this section—

• “land transaction” has the meaning given by section 43(1) of the Finance Act 2003;

• “land transaction return” has the meaning given by section 76(1) of that Act.”.