Part 1 Amendments to Part 4 of the Finance Act 2003: General
Finance Act 2004 (2004 c 12) | Legislation

SCHEDULE 39 Stamp Duty Land Tax and Stamp Duty

Section 296

Part 1 Amendments to Part 4 of the Finance Act 2003: General

Introduction

1

Part 4 of the Finance Act 2003 (c 14) (stamp duty land tax) is amended in accordance with this Part of this Schedule.

Variation of lease

2

In section 43 (land transactions)—

(a)     in paragraph (c) of subsection (3) (variation of chargeable interest), after “interest†insert “ (other than a lease)â€;

(b)     after that paragraph insert—

“(d)     the variation of a lease is an acquisition and disposal of a chargeable interest only where it takes effect, or is treated for the purposes of this Part, as the grant of a new lease.â€.

Agreement for lease

3

In section 44 (contract and conveyance), after subsection (9) insert—

“(9A)     Where—

(a)     paragraph 12A of Schedule 17A applies (agreement for lease), or

(b)     paragraph 19(3) to (6) of Schedule 17A applies (missives of let etc in Scotland),

it applies in place of subsections (4), (8) and (9).â€.

Contract providing for conveyance to third party

4

(1)     After section 44 insert—

“44A Contract providing for conveyance to third party

(1)

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