C1C2Part 4Stamp duty land tax
Pt. 4 modified (coming into force at 2 p.m. on 6.12.2006) by The Stamp Duty Land Tax (Variation of the Finance Act 2003) Regulations 2006 (S.I. 2006/3237), regs. 1, 2, Sch.
Reliefs
75I1Crofting community right to buy
1
This section applies where—
a
a chargeable transaction is entered into in pursuance of the crofting community right to buy, and
b
under that transaction two or more crofts are being bought.
2
In that case, the rate of tax is determined by reference to the fraction of the relevant consideration produced by dividing the total amount of that consideration by the number of crofts being bought.
3
The tax chargeable is then determined by applying that rate to the amount of the chargeable consideration for the transaction in question.
4
In this section “crofting community right to buy” means the right exercisable by a crofting community body under Part 3 of the Land Reform (Scotland) Act 2003 (asp 2).
5
References in this section to the relevant consideration have the same meaning as in section 55.
Pt. 4 construed as one with S.I. 2006/575, reg. 43 (6.4.2006) by The Pension Protection Fund (Tax) Regulations 2006 (S.I. 2006/575), regs. 1, 43(4)