3(1)Section 81ZA (alternative finance arrangements: return where relief withdrawn) is amended as follows.U.K.
(2)In subsection (1), for “or 6H” substitute “ , 6H or 6I ”.
(3)For subsection (2) substitute—
“(2)The provisions of Schedule 10 (returns, assessments and other matters) apply for the purposes of this section with the following modifications—
(a)references to a return under section 76 (general requirement to deliver land transaction return) are to be read as references to a return under subsection (1);
(b)references to the transaction to which a return relates are to be read as references to the withdrawal of relief in respect of which the return is required under subsection (1);
(c)references to a chargeable transaction to which (as yet) no return relates are to be read as references to the withdrawal of relief under any of the provisions mentioned in subsection (1);
(d)references to the effective date of a transaction are to be read as references to the date of the disqualifying event;
(e)references to the purchaser are to be read as references to the relevant person so far as that is necessary as a result of subsection (1) of this section or section 85(3) (payment of additional tax by relevant person where relief withdrawn);
(f)paragraph 36(5A) is to be read as if it also permitted an appeal under paragraph 35(1)(e) on the ground that no further return is required.”
(4)In subsection (3), for the words from “the first day” to the end substitute “—
(a)where the relief was given under paragraph 5, 5B, 5C, 5D or 5F of Schedule 4A, the first day in the control period on which a relevant requirement was not met;
(b)where the relief was given under paragraph 5FA of Schedule 4A, the date determined in accordance with subsection (5A).”
(5)In subsections (4) and (5), for “subsection (3)” substitute “ subsection (3)(a) ”.
(6)After subsection (5) insert—
“(5A)For the purposes of subsection (3)(b) (relief withdrawn because the conditions in paragraph 6I(2) of Schedule 4A are met), the date is—
(a)where paragraph 6I(3) of Schedule 4A does not apply, the first day in the period mentioned in paragraph 6I(2)(a) of that Schedule on which the relevant person is not a qualifying housing body;
(b)where paragraph 6I(3) or (6) of that Schedule applies and relief is withdrawn because condition A in paragraph 6I(4) of that Schedule is met, the day of succession of the relevant successor;
(c)where paragraph 6I(3) or (6) of that Schedule applies and relief is withdrawn because condition B in paragraph 6I(5) of that Schedule is met, the first day in the part of the control period that falls after the day of succession of the relevant successor on which the relevant successor is not a qualifying housing body.”
(7)In subsection (6), for the definition of “the relevant person” substitute—
““the relevant person” means—
(a)the person (other than the financial institution) who entered into the arrangements in question, or
(b)where relief is withdrawn to any extent under paragraph 6I of Schedule 4A in a case to which paragraph 6I(3) or (6) applies, the relevant successor;
“the relevant successor” means the person who is the most recent successor in the chain of succession at the time relief is withdrawn (and that person could be the first successor, the second successor or a subsequent successor).”
(8)After subsection (6) insert—
“(7)Terms used in subsection (5A), and in the definition of “the relevant successor” in subsection (6), which are defined for the purposes of paragraph 6I of Schedule 4A have the same meaning in those provisions as they have in that paragraph.”