F1Schedule 16D (introduced by section 27)Green Freeports Relief

PART 2The relief

Partial relief

3.

(1)

This paragraph applies to a land transaction if—

(a)

the proportion of the chargeable consideration for the transaction that is attributable to qualifying green freeport land (“the relevant proportion”) is less than 90% but at least 10%, and

(b)

the effective date of the transaction is within the period beginning on 1 October 2023 and ending on 30 September 2028.

(2)

The tax chargeable in respect of the transaction is reduced by the relevant proportion.