SCHEDULE 5HIGHER RATES RESIDENTIAL PROPERTY TRANSACTIONS
PART 3BUYER IS AN INDIVIDUAL: MULTIPLE DWELLING TRANSACTIONS
Higher rates residential property transaction
11
(1)
A chargeable transaction is a higher rates residential property transaction if—
(a)
it falls within sub-paragraph (2), and
(b)
paragraph 13 or 15 applies.
(2)
A transaction falls within this sub-paragraph if—
(a)
the buyer is an individual, and
(b)
the main subject-matter of the transaction consists of a major interest in two or more dwellings (““the purchased dwellings””).
(3)
In this Part of this Schedule, “"purchased dwellings”” has the meaning given by sub-paragraph (2)(b).
(4)
Where paragraph 18 applies, an intermediate transaction (within the meaning given by that paragraph) is to be treated as a higher rates residential property transaction.
(5)
A transaction within section 72(9) is not a higher rates residential property transaction save where Schedule 13 applies (see in particular paragraph 6(6) of that Schedule).