SCHEDULE 9 Stamp Duty Land Tax: Right to Buy, Shared Ownership Leases etc
Finance Act 2003 (2003 c 14) | Legislation

SCHEDULE 9 Stamp Duty Land Tax: Right to Buy, Shared Ownership Leases etc

Section 70

Right to buy transactions

1

(1)     In the case of a right to buy transaction—

(a)     section 51(1) (contingent consideration to be included in chargeable consideration on assumption that contingency will occur) does not apply, and

(b)     any consideration that would be payable only if a contingency were to occur, or that is payable only because a contingency has occurred, does not count as chargeable consideration.

(2)     A “right to buy transaction†means—

(a)     the sale of a dwelling at a discount, or the grant of a lease of a dwelling at a discount, by a relevant public sector body, or

(b)     the sale of a dwelling, or the grant of a lease of a dwelling, in pursuance of the preserved right to buy.

(3)     The following are relevant public sector bodies for the purposes of sub-paragraph (2)(a):

Government

A Minister of the Crown

The Scottish Ministers

A Northern Ireland department

Local Government

A local housing authority within the meaning of the Housing Act 1985 (c 68)

A county council in England

A council constituted under section 2 of the

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