The Finance Act 2003, Section 66 (Prescribed Statutory Provisions) Order 2016

Statutory Instruments

2016 No. 558

Stamp Duty Land Tax

The Finance Act 2003, Section 66 (Prescribed Statutory Provisions) Order 2016

Made

4th May 2016

Laid before the House of Commons

5th May 2016

Coming into force

26th May 2016

The Treasury make the following Order in exercise of the powers conferred upon them by section 66(2) of the Finance Act 2003(1).

Citation and commencement

1.  This Order may be cited as the Finance Act 2003, Section 66 (Prescribed Statutory Provisions) Order 2016 and shall come into force on 26th May 2016.

Prescribed Statutory Provisions

2.  A land transaction is exempt from charge to stamp duty land tax if—

(a) it is effected under either section 51 or 53A of the Housing and Regeneration Act 2008(2), and

(b) either the purchaser or the vendor is a public body.

Guto Bebb

Mel Stride

Two of the Lords Commissioners of Her Majesty’s Treasury

4th May 2016

EXPLANATORY NOTE

(This note is not part of the Order)

This Order exempts from the charge to stamp duty land tax, land transactions which are effected under either section 51 or 53A (schemes to transfer property to the Homes and Communities Agency or the Welsh Ministers) of the Housing and Regeneration Act 2008 (c.17) if either the purchaser or the vendor is a public body within the meaning of section 66 of the Finance Act 2003 (c.14).

A Tax Information and Impact Note covering this instrument will be published on the website at http://www.gov.uk/government/collections/tax-information-and-impact-notes-tiins.

(1)

2003 c. 14.

(2)

2008 c. 17. Section 51(3A) was inserted by section 31(3) of the Infrastructure Act 2015 (c. 7) and section 53A was inserted by section 31(1) and (2) of the same Act.