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(2) In paragraph 9—

(a) 20in sub-paragraph (4)—

(i) after “section 55” insert “or 74(1A)”, and

(ii) after “Schedule” (in the second place it occurs) insert “4A or”,
and

(b) in sub-paragraph (5)—

(i) 25for “that section” substitute “section 55”, and

(ii) after “Schedule” (in the second place it occurs) insert “6B”.

(3) In paragraph 9A(1), for “where there is chargeable consideration other than
rent.” substitute “where—

(a) there is chargeable consideration other than rent, and

(b) 30section 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) 35after 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) 40after “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—

(aa) paragraph 3 of Schedule 4A applies to the
transaction;.

Application of amendments

10 (1) 5Except 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—

(a) effected in pursuance of a contract entered into and substantially
10performed before 21 March 2012,

(b) 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).

(3) A transaction effected in pursuance of a contract entered into before 21
15March 2012 is excluded by this sub-paragraph if—

(a) there is any variation of the contract, or assignment (or assignation)
of rights under the contract, on or after 21 March 2012,

(b) 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

(c) 20on 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.

(4) A transaction treated as occurring under paragraph 17(2) or 17A(4) of
25Schedule 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.

Section 216

SCHEDULE 35 Agreement between UK and Switzerland

30Part 1 Introduction

The Agreement and the Joint Declaration

1 In this Schedule—

(a) “the Agreement” means the agreement signed on 6 October 2011
35between 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,

(b) “the Joint Declaration” means the joint declaration (concerning a tax
40finality payment) forming an integral part of that protocol,

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(c) “the start date” is the date on which the Agreement enters into force
in accordance with its terms (see Article 44), and

(d) references to a numbered Article are to the Article of that number in
the Agreement.

5Part 2 The past

Taxes affected

2 (1) The taxes affected by this Part are—

(a) income tax,

(b) 10capital gains tax,

(c) inheritance tax, and

(d) VAT.

(2) Accordingly, this Part affects—

(a) amounts of income on which income tax is charged,

(b) 15chargeable gains,

(c) 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.

(3) An amount falling within one (or more) of those descriptions is referred to
20as 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
it.

Application of this Part

3 (1) This Part applies if—

(a) 25a one-off payment is levied in accordance with Part 2 of the
Agreement,

(b) a certificate is issued under Article 9(4) to a person (“P”) in respect of
that payment, and

(c) the certificate is approved by P or considered approved by virtue of
30that Article.

(2) The certificate is referred to in this Part as “the Part 2 certificate”.

Qualifying amounts

4 (1) The Part 2 certificate applies to taxable amounts in respect of which the
conditions in sub-paragraph (2) are met.

(2) 35The 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) 40The necessary link is—

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Contents page 520-529 530-539 540-549 550-559 560-569 570-579 580-589 590-599 600-609 610-627 628-629 630-639 640-649 650-659 660-669 670-675 Last page