Source: http://www.legislation.gov.uk/ukpga/2003/14/part/4/enacted
Timestamp: 2013-05-22 18:57:51
Document Index: 798125994

Matched Legal Cases: ['art 4', 'art 4', 'art 7', 'art 1', 'art 2', 'art 1', 'art 1', 'art 7', 'art—\n113', 'art.\n122', 'art.\n124']

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Status:This is the original version (as it was originally enacted).Part 4Stamp duty land taxIntroduction42The tax(1)A tax (to be known as “stamp duty land tax”) shall be charged in accordance with this Part on land transactions.
References to payment shall be read accordingly.
(7)Where this section applies—
(a)section 80 (adjustment where contingency ceases or consideration is ascertained) does not apply, and
(b)no application may be made under section 90 (application to defer payment in case of contingent or uncertain consideration).
53Deemed market value where transaction involves connected company(1)Where the purchaser is a company and—
(b)some or all of the consideration for the transaction consists of the issue or transfer of shares in a company with which the vendor is connected,
the chargeable consideration for the transaction shall be taken to be not less than the market value of the subject matter of the transaction as at the effective date of the transaction.
54Exceptions from deemed market value rule(1)Section 53 (chargeable consideration: transaction with connected company) does not apply in the following cases.
In the following provisions “the company” means the company that is the purchaser in relation to the transaction in question.
(b)the vendor is connected with the company only because of section 839(3) of the Taxes Act 1988.
(a)the vendor is a company and the transaction is, or is part of, a distribution of the assets of that company (whether or not in connection with its winding up), and
has, within the period of three years immediately preceding the effective date of the transaction, been the subject of a transaction in respect of which group relief was claimed by the vendor.
Amount of tax chargeable55Amount of tax chargeable: general(1)The amount of tax chargeable in respect of a chargeable transaction is a percentage of the chargeable consideration for the transaction.
56Amount of tax chargeable: rentSchedule 5 provides for the calculation of the tax chargeable where the chargeable consideration for a transaction consists of or includes rent.
Reliefs57Disadvantaged areas relief(1)Schedule 6 provides for relief in the case of transactions relating to land in a disadvantaged area.
58Relief for certain exchanges of residential property(1)Where a dwelling (“the old dwelling”) is acquired from an individual (whether alone or with other individuals) by a house-building company or a company connected with a house-building company, the chargeable consideration for the acquisition is taken to be nil if—
59Relocation relief(1)Where a dwelling is acquired from an employee (whether alone or with other individuals) by the employer or a relocation company, the acquisition is exempt from charge if—
60Compulsory purchase facilitating development(1)A compulsory purchase facilitating development is exempt from charge.
61Compliance with planning obligations(1)A land transaction that is entered into in order to comply with a planning obligation or a modification of a planning obligation is exempt from charge if—
(a)a planning obligation within the meaning of section 106 of the Town and Country Planning Act 1990 that is entered into in accordance with subsection (9) of that section, or
(b)a planning obligation within the meaning of section 299A of that Act that is entered into in accordance with subsection (2) of that section; and
GovernmentA Minister of the Crown or government departmentThe Scottish MinistersA Northern Ireland departmentThe National Assembly for WalesLocal government: EnglandA county or district council constituted under section 2 of the Local Government Act 1972 (c. 70)The council of a London boroughThe Common Council of the City of LondonThe Greater London AuthorityTransport for LondonThe Council of the Isles of ScillyLocal government: WalesA county or county borough council constituted under section 21 of the Local Government Act 1972Local government: ScotlandA council constituted under section 2 of the Local Government etc. (Scotland) Act 1994 (c. 39)Local government: Northern IrelandA district council within the meaning of the Local Government Act (Northern Ireland) 1972 (c. 9 (N.I.))Health: England and WalesA Strategic Health Authority or Health Authority established under section 8 of the National Health Service Act 1977 (c. 49)A Special Health Authority established under section 11 of that ActA Primary Care Trust established under section 16A of that ActA Local Health Board established under section 16BA of that ActA National Health Service Trust established under section 5 of the National Health Service and Community Care Act 1990 (c. 19)Health: ScotlandThe Common Services Agency established under section 10(1) of the National Health Service (Scotland) Act 1978 (c. 29)A Health Board established under section 2(1)(a) of that ActA National Health Service Trust established under section 12A(1) of that ActA Special Health Board established under section 2(1)(b) of that ActHealth: Northern IrelandA Health and Social Services Board established under Article 16 of the Health and Personal Social Services (Northern Ireland) Order 1972 (S.I. 1972/1265 (N.I. 14))A Health and Social Services Trust established under Article 10 of the Health and Personal Social Services (Northern Ireland) Order 1991 (S.I. 1991/194 (N.I. 1))Other planning authoritiesAny other authority that—
(a)is a local planning authority within the meaning of the Town and Country Planning Act 1990 (c. 8), or
(b)is the planning authority for any of the purposes of the planning Acts within the meaning of the Town and Country Planning (Scotland) Act 1997 (c. 8).
Prescribed personsA person prescribed for the purposes of this section by Treasury order62Group relief and reconstruction or acquisition relief(1)Schedule 7 provides for relief from stamp duty land tax.
63Demutualisation of insurance company(1)A land transaction is exempt from charge if it is entered into for the purposes of or in connection with a qualifying transfer of the whole or part of the business of a mutual insurance company (“the mutual”) to a company that has share capital (“the acquiring company”).
64Demutualisation of building societyA land transaction effected by section 97(6) or (7) of the Building Societies Act 1986 (c. 53) (transfer of building society’s business to a commercial company) is exempt from charge.
65Incorporation of limited liability partnership(1)A transaction by which a chargeable interest is transferred by a person (“the transferor”) to a limited liability partnership in connection with its incorporation is exempt from charge if the following three conditions are met.
66Transfers involving public bodies(1)A land transaction entered into on, or in consequence of, or in connection with, a reorganisation effected by or under a statutory provision is exempt from charge if the purchaser and vendor are both public bodies.
Government, Parliament etcA Minister of the CrownThe Scottish MinistersA Northern Ireland departmentThe National Assembly for WalesThe Corporate Officer of the House of LordsThe Corporate Officer of the House of CommonsThe Scottish Parliamentary Corporate BodyThe Northern Ireland Assembly CommissionLocal government: EnglandA county or district council constituted under section 2 of the Local Government Act 1972 (c. 70)The council of a London boroughThe Greater London AuthorityThe Common Council of the City of LondonThe Council of the Isles of ScillyLocal government: WalesA county or county borough council constituted under section 21 of the Local Government Act 1972Local government: ScotlandA council constituted under section 2 of the Local Government etc. (Scotland) Act 1994 (c. 39)Local government: Northern IrelandA district council within the meaning of the Local Government Act (Northern Ireland) 1972 (c. 9 (N.I.))Health: England and WalesA Strategic Health Authority or Health Authority established under section 8 of the National Health Service Act 1977 (c. 49)A Special Health Authority established under section 11 of that ActA Primary Care Trust established under section 16A of that ActA Local Health Board established under section 16BA of that ActA National Health Service Trust established under section 5 of the National Health Service and Community Care Act 1990 (c. 19)Health: ScotlandThe Common Services Agency established under section 10(1) of the National Health Service (Scotland) Act 1978 (c. 29)A Health Board established under section 2(1)(a) of that ActA National Health Service Trust established under section 12A(1) of that ActA Special Health Board established under section 2(1)(b) of that ActHealth: Northern IrelandA Health and Social Services Board established under Article 16 of the Health and Personal Social Services (Northern Ireland) Order 1972 (S.I. 1972/1265 (N.I. 14))A Health and Social Services Trust established under Article 10 of the Health and Personal Social Services (Northern Ireland) Order 1991 (S.I. 1991/194 (N.I. 1))Other planning authoritiesAny other authority that—
(b)is the planning authority for any of the purposes of the planning Acts within the meaning of the Town and Country Planning (Scotland) Act 1997 (c. 8)
Statutory bodiesA body (other than a company) that is established by or under a statutory provision for the purpose of carrying out functions conferred on it by or under a statutory provisionPrescribed personsA person prescribed for the purposes of this section by Treasury order(5)In this section references to a public body include—
67Transfer in consequence of reorganisation of parliamentary constituencies(1)Where—
68Charities relief(1)Schedule 8 provides for relief from stamp duty land tax for acquisitions by charities.
69Acquisition by bodies established for national purposesA land transaction is exempt from charge if the purchaser is any of the following—
70Right to buy transactions, shared ownership leases etcSchedule 9 makes provision for relief in the case of right to buy transactions, shared ownership leases and certain related transactions.
71Certain acquisitions by registered social landlord(1)A land transaction under which the purchaser is a registered social landlord is exempt from charge if—
(a)if it is a company, a director of the company,
(b)if it is a body corporate whose affairs are managed by its members, a member,
(c)if it is body of trustees, a trustee,
(d)if it is not within paragraphs (a) to (c), a member of the committee of management or other body to which is entrusted the direction of the affairs of the registered social landlord.
72Alternative property finance: land sold to financial institution and leased to individual(1)This section applies where arrangements are entered into between an individual and a financial institution under which the institution—
73Alternative property finance: land sold to financial institution and re-sold to individual(1)This section applies where arrangements are entered into between an individual and a financial institution under which—
74Collective enfranchisement by leaseholders(1)This section applies where a chargeable transaction is entered into by an RTE company in pursuance of a right of collective enfranchisement.
75Crofting community right to buy(1)This section applies where—
Returns and other administrative matters76Duty to deliver land transaction return(1)In the case of every notifiable transaction the purchaser must deliver a return (a “land transaction return”) to the Inland Revenue before the end of the period of 30 days after the effective date of the transaction.
77Notifiable transactions(1)This section specifies what land transactions are notifiable.
78Returns, enquiries, assessments and related matters(1)Schedule 10 has effect with respect to land transaction returns, assessments and related matters.
79Registration of land transactions etc(1)A land transaction to which this section applies, or (as the case may be) a document effecting or evidencing a land transaction to which this section applies, shall not be registered, recorded or otherwise reflected in an entry made—
(4)The Inland Revenue may make provision by regulations about Revenue certificates.
80Adjustment where contingency ceases or consideration is ascertained(1)Where section 51 (contingent, uncertain or unascertained consideration) applies in relation to a transaction and—
81Further return where relief withdrawn(1)Where relief is withdrawn to any extent under—
82Loss or destruction of, or damage to, return etc(1)This section applies where—
83Formal requirements as to assessments, penalty determinations etc(1)An assessment, determination, notice or other document required to be used in assessing, charging, collecting and levying tax or determining a penalty under this Part must be in accordance with the forms prescribed from time to time by the Board and a document in the form so prescribed and supplied or approved by the Board is valid and effective.
84Delivery and service of documents(1)A notice or other document to be served under this Part on a person may be delivered to him or left at his usual or last known place of abode.
Liability for and payment of tax85Liability for tax(1)The purchaser is liable to pay the tax in respect of a chargeable transaction.
86Payment of tax(1)Tax payable in respect of a land transaction must be paid at the same time that a land transaction return is made in respect of the transaction.
87Interest on unpaid tax(1)Interest is payable on the amount of any unpaid tax from the end of the period of 30 days after the relevant date until the tax is paid.
88Interest on penaltiesA penalty under this Part shall carry interest at the rate applicable under section 178 of the Finance Act 1989 from the date it is determined until payment.
89Interest on repayment of tax overpaid etc(1)A repayment by the Inland Revenue to which this section applies shall be made with interest at the rate applicable under section 178 of the Finance Act 1989 for the period between the relevant time (as defined below) and the date when the order for repayment is issued.
(a)any repayment of tax, and
(b)any repayment of a penalty under this Part.
In that case the relevant time is the date on which the payment of tax or penalty was made.
(3)This section also applies to a repayment by the Inland Revenue of an amount lodged with them in respect of the tax payable in respect of a transaction.
In that case the relevant time is the date on which the amount was lodged with them.
(4)No interest is payable under this section in respect of a payment made in consequence of an order or judgment of a court having power to allow interest on the payment.
(5)Interest paid to any person under this section is not income of that person for any tax purposes.
90Application to defer payment in case of contingent or uncertain consideration(1)The purchaser may apply to the Inland Revenue to defer payment of tax in a case where the amount payable depends on the amount or value of chargeable consideration that—
(a)at the effective date of the transaction is contingent or uncertain, and
(b)falls to be paid or provided on one or more future dates of which at least one falls, or may fall, more than six months after the effective date of the transaction.
(2)The Inland Revenue may make provision by regulations for carrying this section into effect.
(a)specify when an application is to be made;
(b)impose requirements as to the form and contents of an application;
(c)require the applicant to provide such information as the Inland Revenue may reasonably require for the purposes of determining whether to accept an application;
(d)specify the grounds on which an application may be refused;
(e)specify the procedure for reaching a decision on an application;
(f)make provision for postponing payment of tax when an application has been made;
(g)provide for an appeal to the General or Special Commissioners against a refusal to accept an application, and make provision in relation to such an appeal corresponding to any provision made in relation to appeals under Part 7 of Schedule 10 (appeals against Revenue decisions on tax);
(h)provide for the effect of accepting an application;
(i)require the purchaser to make a return or further return, and to make such payments or further payments of tax as may be specified, in such circumstances as may be specified.
(4)The provisions of Schedule 10 (returns, enquiries, assessments and other matters) apply to a return under this section as they apply to a land transaction return.
(5)An application under this section does not affect the purchaser’s obligations as regards payment of tax in respect of chargeable consideration that has already been paid or provided or is not contingent and whose amount is ascertained or ascertainable at the time the application is made.
This applies as regards both the time of payment and the calculation of the amount payable.
(6)Regulations under this section may provide that where—
(a)a payment is made as mentioned in subsection (5), and
(b)an application under this section is accepted in respect of other chargeable consideration taken into account in calculating the amount of that payment,
section 80 (adjustment where contingency ceases or consideration is ascertained) does not apply in relation to the payment and, instead, any necessary adjustment shall be made in accordance with the regulations.
91Collection and recovery of tax etc(1)The provisions of Schedule 12 have effect with respect to the collection and recovery of tax.
Part 1 contains general provisions, and
Part 2 relates to court proceedings.
(2)The provisions of that Schedule have effect in relation to the collection and recovery of any unpaid amount by way of—
(a)penalty under this Part, or
(b)interest under this Part (on unpaid tax or penalty),
as if it were an amount of unpaid tax.
92Payment by chequeFor the purposes of this Part where—
(a)payment to the Inland Revenue is made by cheque, and
the payment is treated as made on the day on which the cheque was received by the Inland Revenue.
Compliance93Information powers(1)Schedule 13 has effect with respect to the powers of the Inland Revenue to call for documents and information for the purposes of stamp duty land tax.
(3)A person who is required by a notice under Part 1, 2 or 3 of Schedule 13 to deliver a document or to provide information, or to make a document available for inspection, and who fails to comply with the notice is liable to a penalty not exceeding £300.
(4)If the failure continues after a penalty has been imposed under subsection (3), he is liable to a further penalty or penalties not exceeding £60 for each day on which the failure continues after the day on which the penalty under that subsection was imposed (but excluding any day for which a penalty under this subsection has already been imposed).
(5)No penalty shall be imposed under subsection (3) or (4) in respect of a failure at any time after the failure has been remedied.
(6)A person who is required by a notice under Part 1, 2 or 3 of Schedule 13 to deliver a document or to provide information, or to make a document available for inspection, and who fraudulently or negligently delivers, provides or makes available any incorrect document or information is liable to a penalty not exceeding £3,000.
94Power to inspect premises(1)If for the purposes of this Part the Board authorise an officer of theirs to inspect any property for the purpose of ascertaining its market value, or any other matter relevant for the purposes of this Part, the person having custody or possession of the property shall permit the officer so authorised to inspect it at such reasonable times as the Board may consider necessary.
(2)A person who wilfully delays or obstructs an officer of the Board acting in pursuance of this section commits an offence and is liable on summary conviction to a fine not exceeding level 1 on the standard scale.
95Offence of fraudulent evasion of tax(1)A person commits an offence if he is knowingly concerned in the fraudulent evasion of tax by him or any other person.
96Penalty for assisting in preparation of incorrect return etcA person who assists in or induces the preparation or delivery of any information, return or other document that—
(a)he knows will be, or is likely to be, used for any purpose of tax, and
97Power to allow further time and reasonable excuse for failure(1)For the purposes of this Part a person shall be deemed not to have failed to do anything required to be done within a limited time if he did it within such further time, if any, as the Inland Revenue may allow.
(2)Where a person had a reasonable excuse for not doing anything required to be done for the purposes of this Part—
(a)he shall be deemed not to have failed to do it unless the excuse ceased, and
(b)after the excuse ceased, he shall be deemed not to have failed to do it if he did it without unreasonably delay after the excuse had ceased.
98Admissibility of evidence not affected by offer of settlement etc(1)Statements made or documents produced by or on behalf of a person are not inadmissible in proceedings to which this section applies by reason only that it has been drawn to his attention—
(a)that where serious tax fraud has been committed the Board may accept a money settlement and that the Board will accept such a settlement, and will not pursue a criminal prosecution, if he makes a full confession of all tax irregularities, or
(b)that the extent to which he is helpful and volunteers information is a factor that will be taken into account in determining the amount of any penalty,
(a)any criminal proceedings against the person in question for any form of fraudulent conduct in connection with or in relation to tax;
(b)any proceedings against him for the recovery of any tax due from him;
(c)any proceedings for a penalty or on appeal against the determination of a penalty.
99General provisions about penalties(1)Schedule 14 has effect with respect to the determination of penalties under this Part and related appeals.
(2)The Board may in their discretion mitigate a penalty under this Part, or stay or compound any proceedings for the recovery of such a penalty.
They may also, after judgment, further mitigate or entirely remit the penalty.
(3)Nothing in the provisions of this Part relating to penalties affects any criminal proceedings for an offence.
Application of provisions100Companies(1)In this Part “company”, except as otherwise expressly provided, means any body corporate or unincorporated association, but does not include a partnership.
101Unit trust schemes(1)This Part (with the exception of the provisions mentioned in subsection (7) below) applies in relation to a unit trust scheme as if—
102Open-ended investment companies(1)The Treasury may by regulations make such provision as they consider appropriate for securing that the provisions of this Part have effect in relation to—
103Joint purchasers(1)This section applies to a land transaction where there are two or more purchasers who are or will be jointly entitled to the interest acquired.
104Partnerships(1)Schedule 15 has effect with respect to the application of this Part in relation to partnerships.
105TrusteesSchedule 16 has effect with respect to the application of this Part in relation to trustees.
106Persons acting in a representative capacity etc(1)The person having the direction, management or control of the property of an incapacitated person—
107Crown application(1)Subject to the following provisions of this section, this Part applies in relation to public offices and departments of the Crown.
GovernmentA Minister of the CrownThe Scottish MinistersA Northern Ireland departmentParliament etcThe Corporate Officer of the House of LordsThe Corporate Officer of the House of CommonsThe Scottish Parliamentary Corporate BodyThe Northern Ireland Assembly CommissionThe National Assembly for Wales(3)The powers conferred by Part 7 of Schedule 13 (entry with warrant to obtain information) are not exercisable in relation to premises occupied for the purposes of the Crown.
Supplementary provisions108Linked transactions(1)Transactions are “linked” for the purposes of this Part if they form part of a single scheme, arrangement or series of transactions between the same vendor and purchaser or, in either case, persons connected with them.
109General power to vary this Part by regulations(1)The Treasury may if they consider it expedient in the public interest make provision by regulations for the variation of this Part in its application to land transactions of any description.
110Approval of regulations under general power(1)An instrument containing regulations under section 109 (general power to vary this Part by regulations) must be laid before the House of Commons after being made.
111Claim for repayment if regulations under general power not approved(1)Where regulations cease to have effect under section 110, any amount paid by way of tax, or interest or penalty, that would not have been payable but for the regulations shall, on a claim, be repaid by the Inland Revenue.
112Power to amend certain provisions before implementation(1)The Treasury may by regulations amend the following provisions of this Part—
113Functions conferred on “the Inland Revenue”(1)References in this Part to “the Inland Revenue” are to any officer of the Board, except as otherwise provided.
114Orders and regulations made by the Treasury or the Inland Revenue(1)Except as otherwise provided, any power of the Treasury or the Inland Revenue to make an order or regulations under this Part, or under any other enactments relating to stamp duty land tax (including enactments passed after this Act), is exercisable by statutory instrument.
115General and Special Commissioners, appeals and other proceedingsSchedule 17 makes provision about the General and Special Commissioners, appeals and other proceedings before the Commissioners and related matters.
Interpretation etc116Meaning of “residential property”(1)In this Part “residential property” means—
117Meaning of “major interest” in land(1)References in this Part to a “major interest” in land shall be construed as follows.
(2)In relation to land in England or Wales, the references are to—
(3)In relation to land in Scotland, the references are to—
(a)the interest of an owner of land, or
(b)the tenant’s right over or interest in a property subject to a lease.
(4)In relation to land in Northern Ireland, the references are to—
(a)any freehold estate, or
(b)any leasehold estate,
118Meaning of “market value”For the purposes of this Part “market value” shall be determined as for the purposes of the Taxation of Chargeable Gains Act 1992 (c. 12) (see sections 272 to 274 of that Act).
119Meaning of “effective date” of a transaction(1)Except as otherwise provided, the effective date of a land transaction for the purposes of this Part is the date of completion.
(2)Other provision as to the effective date of certain descriptions of land transaction is made by—
section 44(4) (contract and conveyance: contract substantially performed without having been completed), and
section 46(3) (options and rights of pre-emption).
120Meaning of “lease” and other supplementary provisions(1)In the application of this Part to England and Wales or Northern Ireland “lease” means—
121Minor definitionsIn this Part—
“assignment”, in Scotland, means assignation;
“completion”, in Scotland, means—
(a)in relation to a lease, when it is executed by the parties (that is to say, by signing) or constituted by any means;
(b)in relation to any other transaction, the settlement of the transaction;
“employee” includes an office-holder and related expressions have a corresponding meaning;
“jointly entitled” means—
(a)in England and Wales, beneficially entitled as joint tenants or tenants in common,
(b)in Scotland, entitled as joint owners or owners in common,
(c)in Northern Ireland, beneficially entitled as joint tenants, tenants in common or coparceners;
(a)buildings and structures, and
(b)land covered by water;
(a)in relation to England and Wales, a body registered as a social landlord in a register maintained under section 1(1) of the Housing Act 1996 (c. 52);
(b)in relation to Scotland, a body registered in the register maintained under section 57 of the Housing (Scotland) Act 2001 (asp 10);
(c)in relation to Northern Ireland, a housing association registered in the register maintained under Article 14 of the Housing (Northern Ireland) Order 1992 (S.I. 1992/1725 (N.I. 15));
“standard security” has the meaning given by the Conveyancing and Feudal Reform (Scotland) Act 1970 (c. 35);
“statutory provision” means any provision made by or under an Act of Parliament, an Act of the Scottish Parliament or any Northern Ireland legislation;
“surrender”, in Scotland, means renunciation;
“tax”, unless the context otherwise requires, means tax under this Part.
122Index of defined expressionsIn this Part the expressions listed below are defined or otherwise explained by the provisions indicated—
acquisition reliefSchedule 7, paragraph 8(1)assignment (in Scotland)section 121bare trustSchedule 16, paragraph 1(2)the Board (in relation to the Inland Revenue)section 42(3)chargeable considerationsection 50 and Schedule 4chargeable interestsection 48(1)chargeable transactionsection 49charities reliefSchedule 8, paragraph 1(1)closure noticeSchedule 10, paragraph 23(1) (in relation to a land transaction return); Schedule 11, paragraph 16(1) (in relation to a self-certificate)companysection 100 (except as otherwise expressly provided)completion (in Scotland)section 121contingent (in relation to consideration)section 51(3)delivery (in relation to a land transaction return)Schedule 10, paragraph 2(2)discovery assessmentSchedule 10, paragraph 28(1)effective date (in relation to a land transaction)section 119employeesection 121exempt interestsection 48(2) to (5)filing date (in relation to a land transaction return)Schedule 10, paragraph 2(1)implementation dateSchedule 19, paragraph 2(2)the Inland Revenuesection 113jointly entitledsection 121landsection 121land transactionsection 43(1)land transaction returnsection 76(1)lease (and related expressions)section 120linked transactionssection 108main subject-matter (in relation to a land transaction)section 43(6)major interest (in relation to land)section 117market valuesection 118notice of enquirySchedule 10, paragraph 12(1) (in relation to a land transaction return); Schedule 11, paragraph 7(1) (in relation to a self-certificate)notifiable (in relation to a land transaction)section 77partnership (and related expressions)Schedule 15, paragraphs 1 to 4purchasersection 43(4)rate of taxsection 55(7)reconstruction reliefSchedule 7, paragraph 7(1)registered social landlordsection 121residential propertysection 116Revenue determinationSchedule 10, paragraph 25(1)self-assessmentsection 76(3)(a)self-certificatesection 79(3)(b)settlementSchedule 16, paragraph 1(1)standard securitysection 121statutory provisionsection 121subject-matter (in relation to a land transaction)section 43(6)substantial performance (in relation to a contract)section 44(5) to (7)surrender (in Scotland)section 121taxsection 121uncertain (in relation to consideration)section 51(3)unit holdersection 101(4)unit trust schemesection 101(4)vendorsection 43(4)Final provisions123Consequential amendments(1)Schedule 18 contains certain amendments consequential on the provisions of this Part.
124Commencement and transitional provisionsSchedule 19 makes provision for and in connection with the coming into force of the provisions of this Part.