This section has no associated Explanatory Notes
4E+WThe transfer of the reversion to the tenant under the terms of a lease to which paragraph 3 applies (shared ownership lease: election for market value treatment) is relieved from tax if—
(a)an election was made under paragraph 3, and
(b)any tax chargeable in respect of the grant of the lease has been paid.
Commencement Information
I1Sch. 15 para. 4 in force at 1.4.2018 by S.I. 2018/34, art. 3