SCHEDULE 4Relief for certain acquisitions of residential property

PART 5Withdrawal of relief

Relief under Part 4

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Relief under Part 4 of this schedule (acquisition by property trader from individual where chain of transactions breaks down) is withdrawn if the property trader—

(a)

spends more than the permitted amount on refurbishment of the old dwelling,

(b)

grants a lease or licence of the old dwelling, or

(c)

permits any of its principals or employees (or any person connected with any of its principals or employees) to occupy the old dwelling.