Clause 50 of the Finance Bill 2016 sets out the legislation for seeding relief for Property Authorised Investment Funds (PAIFs) and Co-ownership Authorised Contractual Schemes (CoACSs) and would make changes to the SDLT treatment of CoACSs investing in property so that SDLT does not arise on the transactions in units.
The legislation will have effect on and after the date of Royal Assent to Finance Bill 2016. The seeding relief only applies to the extent