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14. After section 109 of the Building Societies Act 1986(1) insert—
109A.—(1) A land transaction effected by or in consequence of—
(a)an amalgamation of two or more building societies under section 93(2); or
(b)a transfer of engagements between building societies under section 94(3),
is exempt from charge for the purposes of stamp duty land tax.
(2) Relief under this section must be claimed in a land transaction return or an amendment of such a return.
(3) In this section—
“land transaction” has the meaning given by section 43(1) of the Finance Act 2003;
“land transaction return” has the meaning given by section 76(1) of that Act.”.
Section 93 has been amended by paragraph 41 of Schedule 7 to the Building Societies Act 1997 and paragraph 177 in Part II of Schedule 3 to S.I. 2001/2617.
Section 94 has been amended by paragraph 42 of Schedule 7 to the Building Societies Act 1997 and paragraph 178 in Part II of Schedule 3 to S.I. 2001/2617.
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