SCHEDULE 13RELIEF FOR ACQUISITIONS INVOLVING MULTIPLE DWELLINGS

F1Circumstances in which subsidiary dwellings do not count as separate dwellings

7A.

(1)

Sub-paragraph (3) applies in relation to a chargeable transaction—

(a)

where—

(i)

the buyer is an individual, and

(ii)

the main subject-matter of the transaction consists of a major interest in two or more dwellings (“purchased dwellings”),

(b)

where only one of the purchased dwellings is a qualifying dwelling, and

(c)

to which paragraph 15 of Schedule 5 does not apply.

(2)

But sub-paragraph (3) does not apply in relation to a chargeable transaction that—

(a)

is within sub-paragraph (1), and

(b)

to which paragraph 18 of Schedule 5 applies (intermediate transaction treated as a higher rates residential property transaction).

(3)

For the purposes of this Schedule, the interests in the qualifying dwelling mentioned in sub-paragraph (1)(b) and a purchased dwelling (or more than one) that is subsidiary to it are treated as if they were an interest in a single dwelling.

(4)

For the purposes of this paragraph, a purchased dwelling (“dwelling A”) is subsidiary to a qualifying dwelling (“dwelling B”) if dwelling A would be subsidiary to dwelling B for the purposes of Schedule 5 (see paragraph 14 of that Schedule).

(5)

In this paragraph, “qualifying dwelling” means a dwelling that is a qualifying dwelling for the purposes of Part 3 of Schedule 5 (see paragraph 13 of that Schedule).