Finance Act 2014 (c. 26)

PART 2 Excise duties and other taxes

Stamp duty land tax and annual tax on enveloped dwellings

110 ATED: further reduction in threshold from 1 April 2016

(1) Part 3 of FA 2013 (annual tax on enveloped dwellings) is amended as follows.

(2) In section 94(2)(a) (charge to tax), for “£1 million” substitute “£500,000”.

(3) In section 99 (amount of tax chargeable), in the table in subsection (4), before the first entry insert—

“£3,500

More than £500,000 but not more than £1 million.”

(4) The amendments made by this section have effect for chargeable periods beginning on or after 1 April 2016.