SCHEDULE 8Relief for alternative finance investment bonds

PART 4Relief for certain transactions

Relief from land and buildings transaction tax: second transaction

I119

1

The second transaction is exempt from charge if—

a

each of conditions A to G is met, and

b

the provisions of this Act in relation to the first transaction are complied with.

2

This paragraph is subject to—

a

paragraphs 21 and 22 (where the interest in land is replaced as the bond asset by an interest in other land),

b

paragraph 24.