4(1)This paragraph applies where a transaction—U.K.
(a)is completed on or after the implementation date,
(b)is effected in pursuance of a contract entered into and substantially performed before that date, and
(c)is not excluded from being an SDLT transaction by paragraph 3.
(2)The transaction is not an SDLT transaction if the contract was substantially performed before the first relevant date.
(3)In any other case, the fact that the contract was substantially performed before the implementation date does not affect the matter.
Accordingly, the effective date of the transaction is the date of completion.
Commencement Information
I1Sch. 19 wholly in force at Royal Assent subject to Sch. 19, see s. 124, Sch. 19 para. 1(1)