SCHEDULE 13RELIEF FOR ACQUISITIONS INVOLVING MULTIPLE DWELLINGS
Transactions to which this Schedule applies
I13
1
This Schedule applies to a relevant transaction.
2
A ““relevant transaction”” is a chargeable transaction that is—
a
within sub-paragraph (3) or (4), and
b
not excluded by sub-paragraph (5).
3
A transaction is within this sub-paragraph if its main subject-matter consists of—
a
an interest in at least two dwellings, or
b
an interest in at least two dwellings and other property.
4
A transaction is within this sub-paragraph if—
a
its main subject-matter consists of—
i
an interest in a dwelling, or
ii
an interest in a dwelling and other property,
b
it is one of a number of linked transactions, and
c
the main subject-matter of at least one of the other linked transactions consists of —
i
an interest in some other dwelling or dwellings, or
ii
an interest in some other dwelling or dwellings and other property.
5
A transaction is excluded by this sub-paragraph if—
a
paragraph 10 (relief for transactions entered into by persons exercising collective rights) of Schedule 14 applies to it, or
b
relief under Schedule 16 (group relief), Schedule 17 (reconstruction and acquisition relief) or Schedule 18 (charities relief) is available for it (even if such a relief is withdrawn).
6
A reference in this Schedule to an interest in a dwelling is to any chargeable interest in or over a dwelling.
7
But, in the case of a dwelling subject to a lease granted for an initial term of more than 21 years, any interest that is a superior interest in relation to the lease is not to be treated as an interest in a dwelling for the purposes of paragraphs 4 and 5.
8
Sub-paragraph (7) does not apply where—
a
the seller is a qualifying body within the meaning given by paragraph 9(3) of Schedule 15 (relief for certain acquisitions of residential properties by tenants),
b
the transaction is a sale under a sale and leaseback arrangement within the meaning of paragraph 2 of Schedule 9 (sale and leaseback arrangements),
c
that sale is the grant of a leasehold interest, and
d
the leaseback element of that arrangement is relieved from tax under Schedule 9 (sale and leaseback relief).