Alternative property finance relief5
1
This regulation applies where arrangements described in section 71A of the FA 2003 are entered into prior to the commencement date.
2
Where this regulation applies and the first and second transactions described in section 71A of the FA 2003 are completed prior to the commencement date, any further transaction described by subsection (4) of that section is relieved from tax under paragraph 2 of Schedule 10 to the LTT Act, provided that—
a
the effective date of that further transaction is on or after the commencement date; and
b
the conditions mentioned in section 71A(4) of the FA 2003 have been met.