SCHEDULE 34 continued
(2) In paragraph 9—
(a) in sub-paragraph (4)—
(i) after “section 55” insert “or 74(1A)”, and
after “Schedule” (in the second place it occurs) insert “4A or”,
(b) in sub-paragraph (5)—
(i) for “that section” substitute “section 55”, and
(ii) after “Schedule” (in the second place it occurs) insert “6B”.
In paragraph 9A(1), for “where there is chargeable consideration other than
rent.” substitute “where—
“(a) there is chargeable consideration other than rent, and
section 55 (amount of tax chargeable: general) applies to
the transaction (whether as a result of paragraph 2 of
Schedule 4A or otherwise).”
8 In paragraph 2(4) of Schedule 6B (transfers involving multiple dwellings)—
(a) omit the “or” at the end of paragraph (a), and
(b) after that paragraph insert—
“(aa) paragraph 3 of Schedule 4A applies to it, or”.
9 (1) Schedule 15 (partnerships) is amended as follows.
(2) In paragraphs 11(2C) and 19(2C), in the substituted sub-paragraph (4)—
(a) after “section 55” insert “or 74(1A)”, and
(b) after “Schedule” (in the second place it occurs) insert “4A or”.
(3) In paragraph 30(2)—
(a) for “either or both” substitute “one or more”, and
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(b) after paragraph (a) insert—
paragraph 3 of Schedule 4A applies to the
Except as mentioned in sub-paragraph (2), the amendments made by this
Schedule have effect in relation to any land transaction of which the effective
date is on or after 21 March 2012.
(2) Those amendments do not have effect in relation to any transaction that is—
effected in pursuance of a contract entered into and substantially
performed before 21 March 2012,
effected in pursuance of a contract entered into before that date and
not excluded by sub-paragraph (3), or
(c) excepted by sub-paragraph (4).
A transaction effected in pursuance of a contract entered into before 21
March 2012 is excluded by this sub-paragraph if—
there is any variation of the contract, or assignment (or assignation)
of rights under the contract, on or after 21 March 2012,
the transaction is effected in consequence of the exercise on or after
that date of any option, right of pre-emption or similar right, or
on or after that date there is an assignment (or assignation), subsale
or other transaction relating to the whole or part of the subject-matter
of the contract as a result of which a person other than the purchaser
under the contract becomes entitled to call for a conveyance.
A transaction treated as occurring under paragraph 17(2) or 17A(4) of
Schedule 15 to FA 2003 (partnerships) is excepted by this sub-paragraph if
the effective date of the land transfer referred to in sub-paragraph (1)(a) of
the paragraph concerned is before 21 March 2012.
1 In this Schedule—
“the Agreement” means the agreement signed on 6 October 2011
between the United Kingdom and the Swiss Confederation on co-
operation in the area of taxation, as amended by a protocol signed by
them on 20 March 2012 and by a mutual agreement signed by them
on 18 April 2012 implementing article XVIII of that protocol,
“the Joint Declaration” means the joint declaration (concerning a tax
finality payment) forming an integral part of that protocol,
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“the start date” is the date on which the Agreement enters into force
in accordance with its terms (see Article 44), and
references to a numbered Article are to the Article of that number in
2 (1) The taxes affected by this Part are—
(a) income tax,
(b) capital gains tax,
(c) inheritance tax, and
(2) Accordingly, this Part affects—
(a) amounts of income on which income tax is charged,
(b) chargeable gains,
the value of property forming part of the value transferred by a
chargeable transfer, and
(d) the value of supplies on which VAT is charged.
An amount falling within one (or more) of those descriptions is referred to
as a “taxable amount” and, in relation to such an amount, “tax” means
whichever of the taxes mentioned in sub-paragraph (1) is (or are) charged on
3 (1) This Part applies if—
a one-off payment is levied in accordance with Part 2 of the
a certificate is issued under Article 9(4) to a person (“P”) in respect of
that payment, and
the certificate is approved by P or considered approved by virtue of
(2) The certificate is referred to in this Part as “the Part 2 certificate”.
The Part 2 certificate applies to taxable amounts in respect of which the
conditions in sub-paragraph (2) are met.
(2) The conditions are—
(a) P is liable to tax on the amount,
(b) the amount is untaxed,
(c) the taxable event took place before the start date, and
(d) the necessary link with the certificate can be demonstrated.
(3) The necessary link is—