65APAIF seeding relief and COACS seeding relief

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.