C1SCHEDULE 5HIGHER RATES RESIDENTIAL PROPERTY TRANSACTIONS

Annotations:
Modifications etc. (not altering text)

C1PART 3BUYER IS AN INDIVIDUAL: MULTIPLE DWELLING TRANSACTIONS

Subsidiary dwelling exception

I1C114

1

A purchased dwelling is not a qualifying dwelling if it is subsidiary to any of the other purchased dwellings.

2

For the purposes of this paragraph, one of the purchased dwellings (““dwelling A””) is subsidiary to another of the purchased dwellings (““dwelling B””) if—

a

dwelling A is situated within the grounds of, or within the same building as, dwelling B, and

b

the amount of the chargeable consideration for the transaction which is attributable on a just and reasonable basis to dwelling B is equal to, or greater than, two thirds of the amount of the chargeable consideration for the transaction which is attributable on a just and reasonable basis to the following combined—

i

dwelling A,

ii

dwelling B, and

iii

each of the other purchased dwellings (if any) which are situated within the grounds of, or within the same building as, dwelling B.