Finance Act 2005

Stamp duty

2 (1) The Stamp Duty (Disadvantaged Areas) (Application of Exemptions) Regulations 2003 (S.I. 2003/1056) are amended as follows.

(2) After regulation 2 insert—

“2A “Disapplication of exemptions conferred by section 92 or by Schedule 30 where all of land is non-residential property

An exemption conferred by section 92 or by Schedule 30 shall not apply where none of the land in question is residential property.”.

(3) In regulation 5 (application of exemptions conferred by section 92 or by Schedule 30 where land only partly residential property), after paragraph (3) insert—

“(3A) An exemption conferred by section 92 or by Schedule 30 shall not apply in relation to any duty chargeable in respect of relevant consideration, or the rate or average rate of rent, attributed to the land in question to the extent that it is not residential property.”.