SCHEDULE 6LEASES

PART 5CALCULATION OF TAX CHARGEABLE

Residential leases, non-residential leases and mixed leases

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For the purposes of this Part of this Schedule, a transaction is—

a

an acquisition of a residential lease if—

i

it is the acquisition of a lease or other chargeable interest relating to a lease, the main subject-matter of which consists entirely of residential property, or

ii

where the acquisition is one of a number of linked transactions, the main subject-matter of each transaction consists entirely of residential property;

b

an acquisition of a non-residential lease if—

i

it is the acquisition of a lease or other chargeable interest relating to a lease, the main subject-matter of which consists entirely of land which is not residential property, or

ii

where the acquisition is one of a number of linked transactions, the main subject-matter of each transaction consists entirely of land which is not residential property;

c

an acquisition of a mixed lease if—

i

it is the acquisition of a lease or other chargeable interest relating to a lease, the main subject-matter of which includes land which is not residential property, or

ii

where the acquisition is one of a number of linked transactions, the main subject-matter of any of the transactions includes land which is not residential property.