SCHEDULE 39 Stamp Duty Land Tax: Transactions Entered into Before Completion of Contract
Finance Act 2013 (2013 c 29) | Legislation

SCHEDULE 39 Stamp Duty Land Tax: Transactions Entered into Before Completion of Contract

Section 195

1

Part 4 of FA 2003 (stamp duty land tax) is amended as follows.

2

For section 45 (contract and conveyance: effect of transfer of rights) substitute—

“45 Transactions entered into before completion of contract

Schedule 2A contains—

(a)     provision about the application of section 44 (contract and conveyance) in certain cases where an assignment of rights, subsale or other transaction is entered into without the contract having been completed, and

(b)     other provision about such cases.â€

3

After Schedule 2 insert—

“SCHEDULE 2A
Transactions Entered into Before Completion of Contract
Pre-completion transactions
1

(1)     This Schedule applies where—

(a)     a person (“the original purchaserâ€) enters into a contract (“the original contractâ€) for the acquisition by that person of a chargeable interest under which the acquisition is to be completed by a conveyance, and

(b)     there is a pre-completion transaction.

(2)     A transaction is a “pre-completion transaction†for the purposes of sub-paragraph (1) if—

(a)     as a result of the transaction a person other than the original purchaser (“the transfereeâ€) becomes entitled to call

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