SCHEDULE 23 SDLT: Charities Relief
Finance Act 2014 (2014 c 26) | Legislation

SCHEDULE 23 SDLT: Charities Relief

Section 113

1

Schedule 8 to FA 2003 (stamp duty land tax: charities relief) is amended as follows.

2

In paragraph 1 (conditions for charities relief)—

(a)     in sub-paragraph (2), omit the words from “that is†to the end;

(b)     in sub-paragraph (3), for “not been†substitute “beenâ€;

(c)     after sub-paragraph (3) insert—

“(3A)     For the purposes of this Schedule, a charity (“Câ€) holds a chargeable interest for qualifying charitable purposes if it holds it—

(a)     for use in furtherance of the charitable purposes of C or another charity, or

(b)     as an investment from which the profits are applied to the charitable purposes of C.â€

3

After paragraph 3 insert—

“Joint purchasers: partial relief

3A

(1)     Sub-paragraphs (3) to (5) apply in any case where—

(a)     there are two or more purchasers under a land transaction,

(b)     the purchasers acquire the subject-matter of the transaction as tenants in common (or, in Scotland, as owners in common),

(c)     at least one of them is, and at least one of them is not, a qualifying charity, and

(d)     no purchaser enters into the transaction for the purpose

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