Textual Amendments
F1Sch. 6B inserted (with effect in accordance with Sch. 22 para. 9 of the amending Act) by Finance Act 2011 (c. 11), Sch. 22 para. 3
5(1)For the purposes of paragraph 4(1)(a), the percentage is the percentage that would be applied under section 55 if—U.K.
(a)the relevant land consisted entirely of residential property, and
(b)the relevant consideration were the fraction produced by dividing total dwellings consideration by total dwellings.
(2)But if that percentage turns out to be 0%, the percentage for the purposes of paragraph 4(1)(a) is 1%.
(3)For a transaction that is not one of a number of linked transactions, “total dwellings consideration” is the consideration attributable to dwellings for that transaction (see paragraph 4(2)).
(4)For one of a number of linked transactions, “total dwellings consideration” is—
(a)the total of the consideration attributable to dwellings for that transaction and all the other linked transactions that are relevant transactions, plus
(b)so much of the chargeable consideration for any of the linked transactions (whether or not relevant transactions) as is not included in the calculation under paragraph (a) but is attributable to the same dwellings by reference to which that calculation is made.
(5)“Total dwellings” is the total number of dwellings by reference to which total dwellings consideration is calculated.
(6)In the application of sub-paragraph (1), no account is to be taken of—
(a)section 116(7), or
(b)paragraph 9A(4) of Schedule 5.
(7)For the purposes of paragraph 4(1)(b), the percentage is the percentage that (but for this Schedule) would be applied under section 55 to the chargeable consideration for the transaction.]