302 Charities relief
Finance Act 2004 (2004 c 12) | Legislation

302  Charities relief

(1)     In Schedule 8 to the Finance Act 2003 (stamp duty land tax: charities relief), after paragraph 2 insert—

“Cases where first condition not fully met

3

(1)     This paragraph applies where—

(a)     a land transaction is not exempt from charge under paragraph 1 because the first condition in that paragraph is not met, but

(b)     the purchaser (“C”) intends to hold the greater part of the subject-matter of the transaction for qualifying charitable purposes.

(2)     In such a case—

(a)     the transaction is exempt from charge, but

(b)     for the purposes of paragraph 2 (withdrawal of charities relief) “disqualifying event” includes—

(i)     any transfer by C of a major interest in the whole or any part of the subject-matter of the transaction, or

(ii)     any grant by

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