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66 Transfers involving public bodies | |
(1) A land transaction entered into on, or in consequence of, or in connection with, | |
a reorganisation effected by or under statute is exempt from charge if the | |
purchaser and vendor are both public bodies. | |
(2) The Treasury may by order provide that a land transaction that is not entered | 5 |
into as mentioned in subsection (1) is exempt from charge if— | |
(a) the transaction is effected by or under a prescribed provision of statute, | |
and | |
(b) either the purchaser or the vendor is a public body. | |
In this subsection “prescribed” means prescribed in an order made under this | 10 |
subsection. | |
(3) A “reorganisation” means changes involving— | |
(a) the establishment, reform or abolition of one or more public bodies, | |
(b) the creation, alteration or abolition of functions to be discharged or | |
discharged by one or more public bodies, or | 15 |
(c) the transfer of functions from one public body to another. | |
(4) “Statute” means— | |
(a) an Act of Parliament, | |
(b) an Act of the Scottish Parliament, or | |
(c) any Northern Ireland legislation as defined in section 24(5) of the | 20 |
Interpretation Act 1978 (c. 30). | |
(5) The following are public bodies for the purposes of this section— | |
Government | |
A Minister of the Crown | |
The Scottish Ministers | 25 |
A Northern Ireland department | |
Parliament etc | |
The Corporate Officer of the House of Lords | |
The Corporate Officer of the House of Commons | |
The Scottish Parliamentary Corporate Body | 30 |
The Northern Ireland Assembly Commission | |
The National Assembly for Wales | |
Local government: England and Wales | |
A county council constituted under section 2 of the Local Government Act 1972 | |
(c. 70) | 35 |
A district council constituted under section 2 of that Act | |
The council of a London borough | |
The Greater London Authority | |
The Common Council of the City of London | |
The Council of the Isles of Scilly | 40 |
Local government: Scotland | |
A council constituted under section 2 of the Local Government etc. (Scotland) | |
Act 1994 (c. 39) | |
Local government: Northern Ireland | |
A district council within the meaning of the Local Government Act (Northern | 45 |
Ireland) 1972 (c. 9 (N.I.)) | |
Health: England and Wales | |
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A Health Authority established under section 8 of the National Health Service | |
Act 1977 (c. 49) (“the NHS Act”) | |
A National Health Service Trust established under section 5 of the National | |
Health Service and Community Care Act 1990 (c. 19) | |
A Primary Care Trust established under section 16A of the NHS Act | 5 |
A Special Health Authority established under section 11 of the NHS Act | |
A Strategic Health Authority established under section 8 of the NHS Act | |
Health: Scotland | |
The Common Services Agency established under section 10(1) of the National | |
Health Service (Scotland) Act 1978 (c. 29) | 10 |
A Health Board established under section 2(1)(a) of that Act | |
A National Health Service Trust established under section 12A(1) of that Act | |
A Special Health Board established under section 2(1)(b) of that Act | |
Health: Northern Ireland | |
A Health and Social Services Board established under Article 16 of the Health | 15 |
and Personal Social Services (Northern Ireland) Order 1972 (S.I. 1972/1265 | |
(N.I. 14)) | |
A Health and Social Services Trust established under Article 10 of the Health | |
and Personal Social Services (Northern Ireland) Order 1991 (S.I. 1991/194 (N.I. | |
1)) | 20 |
Statutory bodies | |
A body (other than a company) that is established by or under an enactment | |
for the purpose of carrying out functions conferred on it by or under any | |
enactment | |
Prescribed persons | 25 |
A person prescribed for the purposes of this section by Treasury order | |
(6) In this section references to a public body include— | |
(a) a company in which all the shares are owned by such a body, and | |
(b) a wholly-owned subsidiary of such a company. | |
67 Transfer in consequence of reorganisation of parliamentary constituencies | 30 |
(1) Where— | |
(a) an Order in Council is made under section 3 of the House of Commons | |
(Redistribution of Seats) Act 1949 (orders specifying new | |
parliamentary constituencies), and | |
(b) an existing local constituency association transfers a chargeable interest | 35 |
to— | |
(i) a new association that is a successor to the existing association, | |
or | |
(ii) a related body that as soon as practicable transfers the interest | |
or right to a new association that is a successor to the existing | 40 |
association, | |
the transfer, or where paragraph (b)(ii) applies each of the transfers, is exempt | |
from charge. | |
(2) In relation to any such order as is mentioned in subsection (1)(a)— | |
(a) “the date of the change” means the date on which the order comes into | 45 |
operation; | |
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(b) “former parliamentary constituency” means an area that, for the | |
purposes of parliamentary elections, was a constituency immediately | |
before that date but is no longer such a constituency after that date; | |
(c) “new parliamentary constituency” means an area that, for the purposes | |
of parliamentary elections, is such a constituency after that date but | 5 |
was not such a constituency immediately before that date. | |
(3) In relation to the date of the change— | |
(a) “existing local constituency association” means a local constituency | |
association whose area was the same, or substantially the same, as the | |
area of a former parliamentary constituency or two or more such | 10 |
constituencies, and | |
(b) “new association” means a local constituency association whose area is | |
the same, or substantially the same, as that of a new parliamentary | |
constituency or two or more such constituencies. | |
(4) In this section— | 15 |
(a) “local constituency association” means an unincorporated association | |
(whether described as an association, a branch or otherwise) whose | |
primary purpose is to further the aims of a political party in an area that | |
at any time is or was the same or substantially the same as the area of a | |
parliamentary constituency or two or more parliamentary | 20 |
constituencies, and | |
(b) “related body”, in relation to such an association, means a body | |
(whether corporate or unincorporated) that is an organ of the political | |
party concerned. | |
(5) For the purposes of this section a new association is a successor to an existing | 25 |
association if any part of the existing association’s area is comprised in the new | |
association’s area. | |
68 Charities relief | |
(1) Schedule 8 provides for relief from stamp duty land tax for acquisitions by | |
charities. | 30 |
(2) Any relief under that Schedule must be claimed in a land transaction return or | |
an amendment of such a return. | |
69 Acquisition by bodies established for national purposes | |
A land transaction is exempt from charge if the purchaser is any of the | |
following— | 35 |
(a) the Historic Buildings and Monuments Commission for England; | |
(b) the National Endowment for Science, Technology and the Arts; | |
(c) the Trustees of the British Museum; | |
(d) the Trustees of the National Heritage Memorial Fund; | |
(e) the Trustees of the Natural History Museum. | 40 |
70 Right to buy transactions, shared ownership leases etc | |
Schedule 9 makes provision for relief in the case of right to buy transactions, | |
shared ownership leases and certain related transactions. | |
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71 Certain acquisitions by registered social landlord | |
(1) A land transaction under which the purchaser is a registered social landlord is | |
exempt from charge if— | |
(a) the registered social landlord is controlled by its tenants, | |
(b) the vendor is a qualifying body, or | 5 |
(c) the transaction is funded with the assistance of a public subsidy. | |
(2) The reference in subsection (1)(a) to a registered social landlord “controlled by | |
its tenants” is to a registered social landlord the majority of whose board | |
members are tenants occupying properties owned or managed by it. | |
“Board member”, in relation to a registered social landlord, means— | 10 |
(a) if it is a company, a director of the company, | |
(b) if it is a body corporate whose affairs are managed by its members, a | |
member, | |
(c) if it is body of trustees, a trustee, | |
(d) if it is not within paragraphs (a) to (c), a member of the committee of | 15 |
management or other body to which is entrusted the direction of the | |
affairs of the registered social landlord. | |
(3) In subsection (1)(b) “qualifying body” means— | |
(a) a registered social landlord, | |
(b) a housing action trust established under Part 3 of the Housing Act 1988 | 20 |
(c. 50), | |
(c) a principal council within the meaning of the Local Government Act | |
1972 (c. 70), | |
(d) the Common Council of the City of London, | |
(e) the Scottish Ministers, | 25 |
(f) a council constituted under section 2 of the Local Government etc. | |
(Scotland) Act 1994 (c. 39), | |
(g) Scottish Homes, | |
(h) the Department for Social Development in Northern Ireland, or | |
(i) the Northern Ireland Housing Executive. | 30 |
(4) In subsection (1)(c) “public subsidy” means any grant or other financial | |
assistance— | |
(a) made or given by way of a distribution pursuant to section 25 of the | |
National Lottery etc. Act 1993 (c. 39) (application of money by | |
distributing bodies), | 35 |
(b) under section 18 of the Housing Act 1996 (c. 52) (social housing grants), | |
(c) under section 126 of the Housing Grants, Construction and | |
Regeneration Act 1996 (c. 53) (financial assistance for regeneration and | |
development), | |
(d) under section 2 of the Housing (Scotland) Act 1988 (c. 43) (general | 40 |
functions of the Scottish Ministers), or | |
(e) under Article 33 of the Housing (Northern Ireland) Order 1992 (S.I. | |
1992/1725 (N.I. 15)). | |
72 Alternative property finance: land sold to financial institution and leased to | |
individual | 45 |
(1) This section applies where arrangements are entered into between an | |
individual and a financial institution under which the institution— | |
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(a) purchases a major interest in land (“the first transaction”), | |
(b) grants to the individual out of that interest a lease (if the interest | |
acquired is freehold) or a sub-lease (if the interest acquired is leasehold) | |
(“the second transaction”), and | |
(c) enters into an agreement under which the individual has a right to | 5 |
require the institution or its successor in title to transfer the major | |
interest purchased by the institution under the first transaction. | |
(2) The first transaction is exempt from charge if the vendor is— | |
(a) the individual, or | |
(b) another financial institution by whom the interest was acquired under | 10 |
arrangements of the kind mentioned in subsection (1) entered into | |
between it and the individual. | |
(3) The second transaction is exempt from charge if the provisions of this Part | |
relating to the first transaction are complied with (including the payment of | |
any tax chargeable). | 15 |
(4) A transfer to the individual that results from the exercise of the right | |
mentioned in subsection (1)(c) (“the third transaction”) is exempt from charge | |
if— | |
(a) the provisions of this Part relating to the first and second transactions | |
are complied with, and | 20 |
(b) at all times between the second and third transactions— | |
(i) the interest purchased under the first transaction is held by a | |
financial institution, and | |
(ii) the lease or sub-lease granted under the second transaction is | |
held by the individual. | 25 |
(5) The agreement mentioned in subsection (1)(c) is not to be treated— | |
(a) as substantially performed unless and until the third transaction is | |
entered into (and accordingly section 44(4) does not apply), or | |
(b) as a distinct land transaction by virtue of section 46 (options and rights | |
of pre-emption). | 30 |
(6) The requirements of subsection (1), or (4)(b)(ii), are not met if— | |
(a) the individual enters into the arrangement, or holds the lease or sub- | |
lease, as trustee and any beneficiary of the trust is not an individual, or | |
(b) the individual enters into the arrangements, or holds the lease or sub- | |
lease, as partner and any of the other partners is not an individual. | 35 |
(7) In this section “financial institution” means— | |
(a) a bank within the meaning of section 840A of the Taxes Act 1988, or | |
(b) a building society within the meaning of the Building Societies Act 1986 | |
(c. 53). | |
(8) In the application of this section to Scotland— | 40 |
(a) the reference to a freehold interest is a reference to the interest of the | |
owner, and | |
(b) the reference to a leasehold interest is to a tenant’s right over or interest | |
in a property subject to a lease. | |
(9) References in this section to an individual shall be read, in relation to times | 45 |
after the death of the individual concerned, as references to his personal | |
representatives. | |
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