11 (1)This paragraph applies where, in relation to a chargeable transaction to which this schedule applies—S
(a)paragraph 10 applies, and
(b)the lease—
(i)is assigned, or
(ii)terminates (whether on the term of the lease coming to an end or otherwise).
(2)The buyer must make a further return to the Tax Authority.
(3)The return must be made before the end of the period of 30 days beginning with the day after the day (the “relevant day”) on which the lease is assigned or terminated.
(4)The return must include an assessment of the amount of tax that, on the basis of the information contained in the return, is chargeable in respect of the transaction at the relevant day.
(5)The tax so chargeable is to be calculated by reference to the tax rates and tax bands in force at the effective date of the transaction.
(6)Where less tax is payable in respect of the transaction than has already been paid, the overpayment is to be repaid by the Tax Authority.
Commencement Information
I1 Sch. 19 para. 11 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2