SCHEDULE 4Relief for certain acquisitions of residential property

PART 1Introductory

Overview of reliefs

I11

1

This schedule provides for relief in the case of certain acquisitions of residential property.

2

It is arranged as follows—

  • Part 2 provides for relief in the case of an acquisition by a house-building company from an individual acquiring a new dwelling,

  • Part 3 provides for relief in the case of an acquisition by a property trader from an individual acquiring a new dwelling,

  • Part 4 provides for relief in the case of an acquisition by a property trader from an individual where a chain of transactions breaks down,

  • Part 5 provides for the withdrawal of those reliefs in certain circumstances,

  • Part 6 defines expressions used in this schedule.