F1SCHEDULE 10ASub-sale development relief

PART 2The relief

General

2.

(1)

Relief under this schedule may be claimed by the buyer (the “first buyer”) in a contract (the “first contract”) for the acquisition by that buyer of a chargeable interest under which the acquisition is to be completed by a conveyance if—

(a)

there is a qualifying sub-sale, and

(b)

the qualifying conditions are met.

(2)

The reference in sub-paragraph (1) to a contract does not include a contract that is a sub-sale or an assignation of rights in relation to another contract.