SCHEDULE 37 Stamp Duty: Abolition of Duty on Instruments Relating to Goodwill: Supplementary Provisions
Finance Act 2002 (2002 c 23) | Legislation

SCHEDULE 37 Stamp Duty: Abolition of Duty on Instruments Relating to Goodwill: Supplementary Provisions

Section 116(2)

Reduction of stamp duty where instrument partly relating to goodwill

1

(1)     This paragraph applies where stamp duty under Part 1 of Schedule 13 to the Finance Act 1999 (c 16) (conveyance or transfer on sale) is chargeable on an instrument that relates partly to goodwill and partly to property other than goodwill.

(2)     In such a case—

(a)     the consideration in respect of which duty would otherwise be charged shall be apportioned, on a just and reasonable basis, as between the goodwill and the other property, and

(b)     the instrument shall be charged only in respect of the consideration attributed to the other property.

(3)     This paragraph applies to instruments executed on or after 23rd April 2002.

Apportionment of consideration for stamp duty purposes

2

(1)     Where part of the property referred to in section 58(1) of the Stamp Act

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