The Stamp Duty (Disadvantaged Areas) (Application of Exemptions) Regulations 2003

Application of exemptions conferred by section 92 or by Schedule 30 where land only partly residential property

5.—(1) This regulation (which includes provisions corresponding to those contained in Schedule 30) applies where the land in question is—

(a) a building or land part of which falls within subsection (1)(a) or (b) of section 92B (meaning of “residential property”), or

(b) an interest in or right over land that subsists only partly as mentioned in subsection (1)(c) of that section.

(2) Where the land in question falls wholly or partly within a disadvantaged area, liability to stamp duty under Part 1 or 2 of Schedule 13 to the Finance Act 1999 on—

(a) a conveyance or transfer on sale of an estate or interest in land, or

(b) a lease of land,

shall be determined in accordance with the following paragraphs of this regulation.

(3) Subject to regulation 6, the consideration in respect of which duty would be chargeable, but for the provisions of section 92 or paragraphs 1 and 3 of Schedule 30, shall be apportioned, on such basis as is just and reasonable, as between the land in question to the extent that it is residential property and the land in question to the extent that it is not.

(4) An exemption conferred by section 92 or by Schedule 30 shall have effect in relation to any duty otherwise chargeable in respect of relevant consideration attributed to the land in question to the extent that it is residential property only where the amount or value of the consideration so attributed is £150,000 or less.

(5) An exemption conferred by section 92 or by Schedule 30 shall have effect in relation to any duty otherwise chargeable in respect of the rate or average rate of rent attributed to the land in question to the extent that it is residential property only where the rate or average rate so attributed is £15,000 or less.