PART 8SDLT and ATED

Stamp duty land tax

129SDLT higher rate: land purchased for commercial use

1

Schedule 4A to FA 2003 (SDLT: higher rate for certain transactions) is amended in accordance with subsections (2) to (4).

2

In paragraph 5—

a

in sub-paragraph (1)—

i

after paragraph (a) insert—

aa

use as business premises for the purposes of a qualifying property rental business (other than one which gives rise to income consisting wholly or mainly of excluded rents);

ab

use for the purposes of a relievable trade;

ii

for paragraph (b) substitute—

b

development or redevelopment and—

i

resale in the course of a property development trade, or

ii

exploitation falling within paragraph (a) or use falling within paragraph (aa) or (ab);

b

in sub-paragraph (2), for “the dwelling” substitute “ a dwelling on the land ”;

c

in sub-paragraph (3), at the appropriate place insert—

“relievable trade” means a trade that is run on a commercial basis and with a view to profit.

3

In paragraph 5G, in sub-paragraph (3)(c) for “the dwelling” substitute “ any dwelling on the land ”.

4

In paragraph 6D(3)(b), for “the dwelling” substitute “ any dwelling on the land concerned ”.

5

The amendments made by this section have effect in relation to any land transaction of which the effective date is on or after 1 April 2016.