SCHEDULES
F1Schedule 6BTransfers involving multiple dwellings
Adjustment for change of circumstances
6
1
This paragraph applies if—
a
relief under this Schedule is claimed for a relevant transaction,
b
an event occurs in the relevant period, and
F2c
had the event occurred immediately before the effective date of the transaction, more tax (calculated according to the effective date of the transaction) would have been payable, whether because the transaction would not have been a relevant transaction or otherwise.
2
If this paragraph applies, tax is chargeable on the transaction as if the event had occurred immediately before the effective date of the transaction.
3
In that case—
a
the purchaser must make a return to Her Majesty's Revenue and Customs before the end of the period of 30 days beginning with the date of the event,
b
the return must contain a self-assessment of the tax chargeable in respect of the transaction on the basis of the information contained in the return,
c
F3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . and
d
the additional tax payable must be paid not later than the filing date for the return.
4
The provisions of section 78A and Schedule 10 apply to a return under this paragraph as they apply to a return under section 76, but with references in Schedule 10 to the effective date of the transaction being read as references to the date of the event.
5
“The relevant period” means the shorter of—
a
the period of 3 years beginning with the effective date of the transaction, and
b
the period beginning with the effective date of the transaction and ending with the date on which the purchaser disposes of the dwelling, or the dwellings, to a person who is not connected with the purchaser.
6
In relation to a transaction effected on completion of a contract that was substantially performed before completion, sub-paragraph (5) applies as if references to the effective date of the transaction were to the date on which the contract was substantially performed.
7
In this paragraph—
“completion” has the same meaning as in section 44;
“contract” includes any agreement (including, in the case of Scotland, missives of let not constituting a lease);
“event” includes any change of circumstance or change of plan;
“substantially performed” has the same meaning as in section 44.
8
Section 1122 of the Corporation Tax Act 2010 (connected persons) has effect for the purposes of this paragraph.
Sch. 6B inserted (with effect in accordance with Sch. 22 para. 9 of the amending Act) by Finance Act 2011 (c. 11), Sch. 22 para. 3