6(1)Section 109 (general power to vary Part 4 of FA 2003 by regulations) is amended as follows.U.K.
(2)After subsection (2) insert—
“(2A)The power under subsection (2)(b) includes power to alter the conditions for the application to a chargeable transaction of paragraph 3 of Schedule 4A (higher rate for certain transactions), other than the condition that the transaction must be a high-value residential transaction.”
(3)In subsection (3)—
(a)for “subsection (2)(b),” substitute “ subsections (2)(b) and (2A), ”,
(b)omit the “or” at the end of paragraph (a), and
(c)after that paragraph insert—
“(aa)section 74(1A) (exercise of collective rights by tenants of flats),
(ab)Schedule 4A (amount of tax chargeable: high-value interests in dwellings), or”.
7(1)Schedule 5 (amount of tax chargeable: rent) is amended as follows.U.K.
(2)In paragraph 9—
(a)in sub-paragraph (4)—
(i)after “section 55” insert “ or 74(1A) ”, and
(ii)after “Schedule” (in the second place it occurs) insert “ 4A or ”, and
(b)in sub-paragraph (5)—
(i)for “that section” substitute “ section 55 ”, and
(ii)after “Schedule” (in the second place it occurs) insert “ 6B ”.
(3)In paragraph 9A(1), for “where there is chargeable consideration other than rent.” substitute “where—
(a)there is chargeable consideration other than rent, and
(b)section 55 (amount of tax chargeable: general) applies to the transaction (whether as a result of paragraph 2 of Schedule 4A or otherwise).”
8U.K.In paragraph 2(4) of Schedule 6B (transfers involving multiple dwellings)—
(a)omit the “or” at the end of paragraph (a), and
(b)after that paragraph insert—
“(aa)paragraph 3 of Schedule 4A applies to it, or”.
9(1)Schedule 15 (partnerships) is amended as follows.U.K.
(2)In paragraphs 11(2C) and 19(2C), in the substituted sub-paragraph (4)—
(a)after “section 55” insert “ or 74(1A) ”, and
(b)after “Schedule” (in the second place it occurs) insert “ 4A or ”.
(3)In paragraph 30(2)—
(a)for “either or both” substitute “ one or more ”, and
(b)after paragraph (a) insert—
“(aa)paragraph 3 of Schedule 4A applies to the transaction;”.